BIZ WATCH

TAKING A FLYER ON THE 2000 BUG

Trust Wall Street to spot a hot investment play in what threatens to become the computer glitch of the century. The snafu--a.k.a. the Millennium Bug--arises because corporate and government computers recognize years by their last two digits, and thus will be unable to tell the year 2000 from 1900. Fixing the problem could cost $600 billion.

Will the bug industry succeed? Last month the American Stock Exchange let investors hedge their hunches. It began trading futures options based on the 18-stock De Jager Year 2000 Index, made up of companies such as giant Dun...

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