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shared by Pedro Gonçalves on 24 Apr 13 - No Cached

a false tweet from a trusted news organization sent the US stock market into freefall.The 143-point fall in the Dow Jones industrial average came after hackers sent a message from the Twitter feed of the Associated Press, saying the White House had been hit by two explosions and that Barack Obama was injured.
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The market recovered within a few minutes of the misunderstanding, but the incident left traders catching their breath and speculating once more about their vulnerability to breaking news in the age of social media.
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There were also concerns over what many suggested was the lurking menace of trading algorithms that scan the news and trade quickly, causing "flash crashes".
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Others attacked the allegedly pernicious influence of high-frequency trading algorithms that comb news and execute trades in nanoseconds.
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algorithms that engage in high-frequency trading, or HFT: "It's not the fact that @AP was just hacked," he tweeted. "It's the fact that we have HFT algos reading headlines reacting to them."
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