AP twitter hack Sends S&P Futures Down while Volume Surges

DailyFX

On Tuesday 1:00EST, the associated press twitter account sent out a tweet the reads “Breaking: Two Explosions in the White House and Barack Obama is injured.” Shortly after the release, the account has been suspended and associated press stated that their verified account has been hacked and the message was erroneous.

Although the associated press was the only source of the false message, it has disseminated quickly to other media platforms through its mass 1,903,131 active followers. As a result, the S&P 500 dipped 14 points to 1562.50 within the three minutes of the message. At the time of writing, the S&P 500 and Emini future volume have returned to their previous levels as investors disregarded the false tweets about the explosion.

Both graphs below show the price action of the S&P 500 Future and S&P 500 Emini future volume. The first graph shows that volume has surged substantially to nearly $2 billion, it is clear that the scale of the movement was massive relative to the volume within the month. Meanwhile, the second graph provide a better sense of the price action in a shorter time frame, showing the S&P 500 futures plummeted nearly 20 points to 1557.

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USDJPY 5 Minute Chart

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AP_twitter_hack_Sends_SP_Futures_Down_while_Volume_Surges_body_Clipboard01.jpg,  AP twitter hack Sends S&P Futures Down while Volume Surges

Chart Created by Robin Leung using Marketscope 2.0

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