Associated Press Twitter account Hacked

The chart below is a two minute chart of the SPY on 04-23-2013. The Associated Press’s Twitter account got hacked and someone tweeted that the White House had been bombed. The Dow Jones Industrial Average dropped 145 points and recovered in about 7 minutes. The SPY is shown below, on a two minute chart the down move was over 30 standard deviations as shown on the red bar. This was an excellent example of the kind of market volatility that one tweet can produce, even though it turned out to be false.

SPY 04-23-13 AP Twitter hack (1)


About sellacalloption

Author, Radio Show Host and Portfolio manager and chief option strategist for IWC Asset Management.

Posted on April 24, 2013, in Option Basics and tagged , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: