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Wednesday 24 April 2013

How a phony tweet and trading programs on autopilot sank stocks

Trader Christopher Lotito, center, works on the floor of the New York Stock Exchange Wednesday, April 24, 2013. No sooner did a phony Associated Press report of explosions at the White House appear on Twitter on Tuesday than investors started dumping stocks, eventually unloading $134 billion worth. Turns out, some investors are not only gullible, they’re impossibly fast stock traders. (AP Photo/Richard Drew)NEW YORK (AP) — For a few surreal minutes, a mere 12 words on Twitter caused the world's mightiest stock market to tremble.





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