AP Twitter Hack Highlights The Vulnerability Of Financial Markets To Algorithmic Trading

Category: Markets / Finance / Apr 24, 2013 5:53PM EDT
Jonathan Corpina, senior managing partner with brokerage firm Meridian Equity Partners Inc., weighs in on The Associated Press hacking incident on Tuesday that rattled financial markets and social media after an AP tweet appeared around 1 p.m.: "Breaking: Two Explosions in the White House and Barack Obama is injured." The AP took down its Twitter account and quickly announced it had been hacked, but during the meantime the Dow fell 143 points at about 1:08 p.m. Eastern, temporarily erasing the day's gains. Although the market did recover, the incident left traders speculating about how the AP hacking incident signals the growing vulnerability of financial markets to technology.