4.23.2013
AP Hacked – Stocks Briefly Plunge After False WH Attack
original article written by Net Advisor™
NEW YORK, NY. The Dow fell about -166 points after a false report that the White House was attacked and President Obama was injured.
The tweet said:
The news was released by the Associated Press (AP) who had their Twitter account hacked where the false report was posted on Twitter.
The (at)AP twitter account has been hacked. A tweet about an attack at the White House is false. We will advise on acct. status.
— AP Stylebook (@APStylebook) April 23, 2013
AP’s primary account showed “suspended” until the issues are resolved. After the bogus tweet was clarified, the Dow immediately recovered its losses back to about where it had been trading before the false report.
The financial markets pay close attention to the wire services such as AP, Reuters, Dow Jones News Wire, and other services for breaking news reports. Given the speed in which markets can react to news, the false AP report had an immediate impact on the market. Once clarified, the markets corrected themselves to reflect close to the previous move of the market.
Investors who were in this short down and up spike could have gained or lost during this event.
Given the nature of the incident relating to the White House, the FBI and Secret Service will undoubtedly be investigating.
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Short link to this article: https://www.netadvisor.org/?p=18160
Credits: stock chart: BigCharts.com; Tweet Image: AP; Tweet Imbed: Twitter
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