US Stocks Plunge Then Recover After Fake Tweet
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(KMOX) – Around noon Tuesday news junkies and stock brokers simultaneously had a mini heart after this tweet by The Associated Press.
The @AP Twitter account has since been suspended and AP acknowledged the hacking to it’s 1.9 million followers.
But what’s more interesting is that U.S. stocks briefly erased a 125-point gain after the false tweet.
“The AP’s servers got hacked. People quickly figured that out…see how temperamental the market is? The age of social media, if you’re allowed to monitor Twitter feeds like we are, we see that right away,” said Keith Bliss, senior vice president at brokerage firm Cuttone & Co. “Just goes to show, you shouldn’t have a knee-jerk reaction to anything that comes across Twitter.”
From 12:08 p.m. CT to 12:10 p.m. CT, the Dow went from a 132-point gain to a nearly 13-point loss. It was recently back up 127 points.