Hacked @AP tweet causes DJIA to drop 130+ points

[EMAWmeister]

Momentarily. Kinda scary.

[GCJayhawker]

It's almost like the idea of the President and the implications that would have are bad news.  Who knew?

[EMAWmeister]

It's almost like the idea of the President and the implications that would have are bad news.  Who knew?

I think the fact that social media can affect our markets that much is terrifying.

[EllRobersonisInnocent]

I said "holy crap!" out loud and told the roommate to put on the news as soon as I read the tweet over lunch break

[GCJayhawker]

It's almost like the idea of the President and the implications that would have are bad news.  Who knew?

I think the fact that social media can affect our markets that much is terrifying.

I don't think it was the social media itself that cause the dip.  It was the news reported on social media that caused the dip.  All though the news would not have been possible without social media's susceptibility to hacking.

[EMAWmeister]

It's almost like the idea of the President and the implications that would have are bad news.  Who knew?

I think the fact that social media can affect our markets that much is terrifying.

I don't think it was the social media itself that cause the dip.  It was the news reported on social media that caused the dip.  All though the news would not have been possible without social media's susceptibility to hacking.

Yeah, that's my point. It's a lot easier to get fake news out and spreading at an unbelievable pace on twitter than it is to get that news into an ABC/CNN/Fox newsroom

[SabiNation]

Heard about this but haven't seen the tweet yet...what did it say?

[OK_Cat]

Heard about this but haven't seen the tweet yet...what did it say?

how 'bout you look at the first post in this thread, dummy.

[EMAWmeister]

Heard about this but haven't seen the tweet yet...what did it say?

how 'bout you look at the first post in this thread, dummy.

how 'bout you don't talk to fantastic human and very good IRL friend SabiNation like that, OK Cat.

[yoga-like_abana]

Arbitrage! Coming soon to a theater near you

[OK_Cat]

Heard about this but haven't seen the tweet yet...what did it say?

how 'bout you look at the first post in this thread, dummy.

how 'bout you don't talk to fantastic human and very good IRL friend SabiNation like that, OK Cat.

stupid questions get stupid responses.

[Dugout DickStone]

meh, Olympus has Fallen sucked but no reason to sell your stocks.

[SabiNation]

Heard about this but haven't seen the tweet yet...what did it say?

how 'bout you look at the first post in this thread, dummy.

how 'bout you don't talk to fantastic human and very good IRL friend SabiNation like that, OK Cat.

stupid questions get stupid responses.

My apologies gents.  My work computer didn't show the image for whatever reason.  I had to look on my phone.  For a minute I was very  as to why OK Cat was yelling at me 

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

Animal forces.  The president is 'injured' ? GMAFB.  Somebody is going to white collar jail over this.

[ednksu]

So apparently this drop from trading had little human influence and was propagated by computers pulling headlines from sources and a key word list which caused the sell off.

[p1k3]

So apparently this drop from trading had little human influence and was propagated by computers pulling headlines from sources and a key word list which caused the sell off.

Algos basically run the market nowadays

[steve dave]

the initial market reaction would trigger a shitload of stop loss orders as well. snowball gonna snowball.

[ednksu]

So apparently this drop from trading had little human influence and was propagated by computers pulling headlines from sources and a key word list which caused the sell off.

Algos basically run the market nowadays

i've learned a (very) little bit about the way computers are integrated into trading, and its amazing and scary.  I did not know how integrated the systems were between social media, news aggregation, and trading.  I mean its obvious from any perspective, but damn, you think this would flag at someone's desk before any kind of real sell off can occur like SD points out.

[Emo EMAW]

You guy remember the flash crash a few years ago?  There's this guy that's been saying for a long time about the potential for this and he had thousands of buy orders at super low prices.  Picked up some great deals and flipped them but the SEC reversed all the trades and he got super butthurt.   

[star seed 7]

I bet jetmore was party central when they heard the news.

[Emo EMAW]

I bet jetmore was party central when they heard the news.

Started work on painting "MISSION ACCOMPLISHED" on the grain silos.

[sonofdaxjones]

The tweet was apparently done by Syrian Gov't hackers.

[Emo EMAW]

Flash crash master thread?

http://www.foxbusiness.com/investing/2013/04/30/flash-crash-symantec-plummets-11-in-seconds-before-recovering/?intcmp=HPBucket

[p1k3]

So apparently this drop from trading had little human influence and was propagated by computers pulling headlines from sources and a key word list which caused the sell off.

Algos basically run the market nowadays

i've learned a (very) little bit about the way computers are integrated into trading, and its amazing and scary.  I did not know how integrated the systems were between social media, news aggregation, and trading.  I mean its obvious from any perspective, but damn, you think this would flag at someone's desk before any kind of real sell off can occur like SD points out.

It is pretty strange. Read up on the Knight mini crash if you haven't already

http://www.forbes.com/sites/steveschaefer/2012/08/01/mini-flash-crash-goodyear-molycorp-among-stocks-to-see-wild-swings/

I was watching CNBC after it happened and they had live cameras outside Knight's office in Manhattan (i think). You could see ambulances outside the office because Knights stock dropped so much that employees were having heart attacks. This was all because of a computer "glitch".