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Thread: The tweet that cost $139 BILLION

  1. #1

    The tweet that cost $139 BILLION

    The tweet that cost $139 BILLION: Researchers analyse impact of hacked 2013 message claiming President Obama had been injured by White House explosion

    • Tweet was sent in 2013 after Syrian hackers accessed AP account
    • Dow Jones Industrial Average dropped 143.5 points
    • Standard & Poor's 500 Index lost more than $136 billion
    • Researchers warned that algorithms were to blame for massive drop

    By Mark Prigg For Dailymail.com

    Published: 18:07 EST, 20 May 2015



    It could have been be one of the most expensive tweets in history.
    A false tweet from a hacked account owned by the Associated Press (AP) in 2013 sent financial markets into a tailspin.
    The Dow Jones Industrial Average dropped 143.5 points and the Standard & Poor's 500 Index lost more than $136 billion of its value in the seconds that immediately followed the post.


    Experts say the massive stock crash shows that financial organisations rely too heavily on trading algorithms - and warn the same system could cause 'unpredictable consequences' in the future after analysing this tweet

    WHAT HAPPENED?

    At 1:07 p.m. on Tuesday, April 23, 2013, a tweet went out over the Associated Press’s Twitter feed:@AP: Breaking: Two Explosions in the White House and Barack Obama is injured.
    It was retweeted 4,000 times in less than five minutes.
    Later, it emerged hackers had infiltrated the account and sent the message.



    The event, known as Hack Crash, demonstrates the need to better understand how social media data is linked to decision making in the private and public sector, according to Tero Karppi, PhD, an assistant professor in the University at Buffalo College of Arts and Sciences' Department of Media Study.
    http://www.dailymail.co.uk/sciencetech/article-3090221/The-tweet-cost-139-BILLION-Researchers-analyse-impact-hacked-message-claiming-President-Obama-injured-White-House-explosion.html



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  3. #2
    They deserve it if twitter is their source of news.
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."

  4. #3
    Do algorithms have animal spirits?
    Quote Originally Posted by BuddyRey View Post
    Do you think it's a coincidence that the most cherished standard of the Ron Paul campaign was a sign highlighting the word "love" inside the word "revolution"? A revolution not based on love is a revolution doomed to failure. So, at the risk of sounding corny, I just wanted to let you know that, wherever you stand on any of these hot-button issues, and even if we might have exchanged bitter words or harsh sentiments in the past, I love each and every one of you - no exceptions!

    "When goods do not cross borders, soldiers will." Frederic Bastiat

    Peace.

  5. #4
    The "crash" only lasted a couple of minutes and the DOW finished the day higher than it started. The drop was less than one percent.



    http://money.cnn.com/2013/04/23/inve...tocks-markets/

  6. #5
    Quote Originally Posted by Warrior_of_Freedom View Post
    They deserve it if twitter is their source of news.
    Lots of blithering idiots can't decide what to eat without that $#@!.



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