Twitter Users Weren’t the Only Ones Panicked by AP Hack

by Categorized: Business, Data Date:

The hacking of the Associated Press’s Twitter account created more than an embarrassment for the global wire service and way too many panicked retweets. It also caused an ever-so-brief panic on Wall Street.

As the chart below shows, trading volume soared and the Dow Jones Industrial Average plummeted (as did broader market indices) following a bogus Tweet indicating multiple explosions at the White House.

The market quickly recovered, but in that brief window, the market capitalization of U.S. stocks fell and rose by about $180 billion – suggesting that some people made a lot of money, and other people lost it, during the prank.

DJIA

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.

One thought on “Twitter Users Weren’t the Only Ones Panicked by AP Hack

  1. Lee Brim

    what is most amazing is how the stock market is increasing from Fed printing money and not real economic growth.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>