Hacked AP Twitter Feed Brings NYSE 'Flash Crash'
By Brad Friedman on 4/23/2013, 5:15pm PT
With the U.S. stock market hitting all-time record highs again of late, it'd be understandable for some to think strength and confidence has returned to the stock exchange.
But if today's mid-day "flash crash" --- which saw the S&P Index lose $136 billion in a matter of four minutes as AP's Twitter feed was hacked to announce, inaccurately, that a bomb had gone off in the White House --- is any indication, that's hardly the case . . .
You'll be delighted to know, of course, that the samecasino, stock market immediately gained almost all of its losses back in almost the same amount of time it took to lose them, ultimately ending the day at another near-record high. Step right up!
Thanks for that vote of confidence, Brad!
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