Shortly after 1 p.m. ET on Tuesday, the world just about ended as far as Wall Street was concerned, when the AP tweeted that President Obama had been injured by explosions at the White House. Within minutes, the Dow dropped 145 points. Shortly afterward, the AP reported its Twitter account had been hacked. The markets quickly settled back into their normal rhythm of buying and trending, but the event left its mark: The financial system is vulnerable not only to trending news and events reported on social media, but also to false events and rumors broadcast on these networks.
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Market Jitters Hint at Social Hacks' High Threat Level
Posted by: Erika Morphy April 24, 2013 11:42 AMShortly after 1 p.m. ET on Tuesday, the world just about ended as far as Wall Street was concerned, when the AP tweeted that President Obama had been injured by explosions at the White House. Within minutes, the Dow dropped 145 points. Shortly afterward, the AP reported its Twitter account had been hacked. The markets quickly settled back into their normal rhythm of buying and trending, but the event left its mark: The financial system is vulnerable not only to trending news and events reported on social media, but also to false events and rumors broadcast on these networks.