first_imgNormally a minor move in the Dow Jones Industrial Average is no big deal. When it’s kicked off by a single piece of bogus news from a hacked Twitter account, however, it’s a little more noteworthy.That’s precisely what happened today as the official @AssociatedPress account was compromised. Those who gained control quickly posted a bogus tweet that a pair of bombs had exploded at 1600 Pennsylvania Avenue, rocking the White House and leaving President Obama injured.Within minutes, the market fell about 1% — wiping out a morning of steady gains. It only took about three minutes for the Dow to reach its nadir. About fifteen minutes later it was business as usual.In the age of Twitter — and constant high-profile account breaches — it’s clearly becoming more and more critical to pause before reacting to real-time updates… even from a respected news outlet like the AP. But then knee-jerk reactions from stock traders aren’t exactly a new problem in the world of finance.If you recall, Twitter promised back in February that it was going to take a long, hard look at implementing two-factor authentication. Many high-profile Twitter users have even said they’d be willing to pay for the added account security.Yet here we are, two months later, and Twitter hasn’t been able to get two-factor authentication up and running. Today’s AP incident has probably raised the stakes exponentially and that’s the silver lining here.We’ve got enough messes to deal with already. We don’t need something as stupid as a tweet from a hacked Twitter account screwing with our investments and messing with an already fragile economy.last_img

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