Video: Junior market dominated by ‘the lame, the halt and the blind,’ says Rule
Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule.
A false tweet by Associated Press shook financial markets on Tuesday.
The fake message said: “Breaking: Two Explosions in the White House and Barack Obama is injured.”
Associated Press, which has nearly two million followers, confirmed that the tweet was not real. The Tweet was sent at 1 p.m. ET on Tuesday and was retweeted several thousand times.
The SyrianElectronicArmy has “claimed” responsibility.
Right after the tweet, the Dow Jones Industrial Average dropped 150 points at 1:10 pm ET.
The CBOE Volatility Index spiked.
Both US Treasury bonds and gold prices climbed right after the bogus message. The SPDR gold shares climbed briefly during the announcement then fell.
Even Bitcoin spiked.
Silver futures moved less than $1 per troy ounce, returning to their prior level when @AP clarified its twitter account had been hacked.
The agency said the attack came after repeated attempts by hackers to steal passwords from its journalists, adding that it was working to correct the issue.
AP’s main account is currently suspended.
Twitter image by Annette Shaff / Shutterstock.com
Correction: Headline was reworded to better sum up price movements
