Wall Street watches Twitter

Updated
 
Wall Street watches Twitter
Wall Street watches Twitter

The official Associated Press feed on Twitter was hacked this afternoon, and those responsible started sending messages of news events that did not occur. For example, a little after 1 p.m. eastern, @AP “reported” that there were two explosions at the White House and President Obama had been hurt – though this did not happen.

But for a minute or so, folks who rely solely on twitter for news didn’t know to ignore the AP’s feed, and thought an actual crisis was underway. For example, take a look at what happened on Wall Street. This chart shows today’s Dow Jones trading.

I added an arrow, but I think you can probably guess exactly when Wall Street saw the “news,” and when traders realized the AP had been hacked.

The morals of the story: (1) Wall Street watches Twitter. and the notion that social media doesn’t have a meaningful, real-world impact is an antiquated concept; and (2) password security matters.

Update: At the start of today’s White House press briefing, an AP reporter told the rest of the press corps about the “false” reports they should ignore. Jay Carney added, “Good. I thank you for that. I appreciate that. And I can say that the president is fine. I was just with him.”

 

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Wall Street watches Twitter

Updated