A bit earlier today someone got their hands on the official AP Twitter account and falsely reported that Barack Obama had been injured by an explosion in the White House. As you can see above, the financial market reaction was swift and decisive. A huge crash followed by a large rally once it became clear this was fake.
It makes you wonder if there isn't a profit-making opportunity out there in the realm of Twitter hacks. The Internet seems to spread both the rumor and the correction very quickly, and U.S. financial markets are deep and liquid enough to respond in a big way in real time. As Oliver Willis writes, instead of his elaborate stock market hijacking plan Bane could have just sent out some errant tweets.
TODAY IN SLATE
Justice Ginsburg’s Crucial Dissent in the Texas Voter ID Case
The Jarring Experience of Watching White Americans Speak Frankly About Race
How Facebook’s New Feature Could Come in Handy During a Disaster
The Most Ingenious Teaching Device Ever Invented
Sprawl, Decadence, and Environmental Ruin in Nevada
You Should Be Able to Sell Your Kidney
Or at least trade it for something.
- Texas Lab Worker on Cruise Tests Negative for Ebola as Dallas Hospital Apologizes
- Police Use Tear Gas to Break Up College Pumpkin Festival Turned Violent
- Racist Rancher Cliven Bundy Challenges Eric Holder in Bizarre Campaign Ad
- Supreme Court Allows Texas Law That Accepts Handgun Permits but not College IDs to Vote
An All-Female Mission to Mars
As a NASA guinea pig, I verified that women would be cheaper to launch than men.