Side Effects of PA Hacking

  morddwyd 25 Apr 13
Locked

One of the most alarming aspects of the recent hacking of the Press Association website, and a story posted that the White House had been bombed and Obama hurt, was that before the denial gained currency the Dow Jones dropped several points.

This raises frightening prospects of co-ordinated criminal or state sponsored attacks affecting major economies.

  fourm member 25 Apr 13

Perhaps people will learn not to trust instant news and a single source. If the White House had been attacked it would have been on all the main TV channels within seconds.

People should treat every day like April 1st and assume a 'breaking' story is nonsense until it gets confirmed.

Obviously, that doesn't happen at the moment and that's why the stock market blipped.

According to the Guardian the Dow recovered in a few minutes so little real harm was done and, if it makes people more wary in the future, it may end up doing some good.

  spuds 25 Apr 13

Perhaps I am well off limits here, but I often wonder if some of these 'scares' are intentional, so as to see how the people or the markets will react?.

The other question might be one of 'who lost and who profited' during this event?.

  morddwyd 25 Apr 13

"Perhaps people will learn not to trust instant news and a single source."

It may not be "people", but just one person. Just one nervous trader to trigger an automatic selling programme is all it takes.

"the Dow recovered in a few minutes "

But of course, these days again that's all it takes.

Time it right and maybe a dip in Asia, then the Dax, and with the vast majority of institutional transactions triggered automatically by computers and you're talking about billions in less than a minute.

  wee eddie 25 Apr 13

Sell short just before ~ Buy in 4 minutes after.

Just tell me when you plan to do it and I'll order the Ferrari

  bumpkin 25 Apr 13

morddwyd, "vast majority of institutional transactions triggered automatically by computers and you're talking about billions in less than a minute". I think you have the reason worked out.

  morddwyd 26 Apr 13

The reason for what?

  bumpkin 26 Apr 13

morddwyd, I meant it was the reason why some one would want false information fed to the media causing a market dip in order to cash in on it using modern technology to buy at a low.

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