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Hacked AP Twitter reports White House bombing, causes brief dip in Dow
You might have noticed that the AP's Twitter account was hacked this afternoon and spread a report of a bombing at the White House. That yet another Twitter account was hacked isn't the interesting part, it's the immediate (if brief and shallow) plunge that the financial markets took. We don't really need any further reminders of the power of social media, but it's hard to ignore this particularly stark demonstration of the real-time effects. In this hyper-connected environment a breaking news tweet that was only live for a few minutes and, in retrospect, contained many glaring clues to its falsehood, caused the Dow Jones Industrial Average to drop to 14,567, from 14,697. Now, that only represents a roughly 1-percent drop, and it lasted only about as long as the tweet itself -- the markets quickly bounced back and stabilized. But it is a firm reminder that virtual events can have significant real world consequences.
Daily Update for July 31, 2012
It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world. You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here. No Flash? Click here to listen. Subscribe via RSS
AAPL declines again, S&P and Nasdaq see an impact
When it comes to stocks, Apple is an influencer and any changes in its stock price will affect US stock indexes. That's what happened on Monday when the Dow Jones Industrial Average surged and the NASDAQ and S&P fell because of Apple, says a report in Forbes. The NASDAQ and S&P both include Apple, and the company's five day decline is dragging the two indexes down. Apple's stock is now sitting at US$580.13, a 4.2 percent decline from its previous high of $610.28.
