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AP Hacked – Stocks Briefly Plunge After False WH Attack

April 23rd, 2013 Comments off

4.23.2013

Stocks briefly fell after AP's Twitter account was hacked, posting false report of attack at the White House (Chart: BigCharts.com)

Stocks briefly fell after AP’s Twitter account was hacked, posting false report of attack at the White House (Chart: BigCharts.com)

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:

AP Hacked: False report of attack at the White House. (Image Credit: AP)

AP Hacked: False report of attack at the White House. (Image Credit: AP)

The news was released by the Associated Press (AP) who had their Twitter account hacked where the false report was posted on Twitter.

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: http://www.netadvisor.org/?p=18160

Credits: stock chart: BigCharts.com; Tweet Image: AP; Tweet Imbed: Twitter

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Categories: Trends (short term)