The Market Plunges on Twitter Hacking

Shortly after 1 p.m., the stock market plunged about 1% after the AP’s twitter feed was hacked. The hackers said that the White House had been attacked. Fortunately, the report was bogus and the stock market quickly got back to normal.

By the way, this is one of the reasons why I’m not a big fan of stop-losses (though I do use them occasionally). In the short-term, the market is highly irrational and you can get stopped out of good stocks for no good reason.

Posted by Eddy Elfenbein on April 23rd, 2013 at 1:20 pm

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