AP Tweet momentarily craters market

Moments after the Associated Press tweeted that two explosions had been reported at the White House and the president was injured, investors began to panic, dropping the S&P 500 into a momentary free fall.

Within moments, the S&P 500 dipped 1 percent while the Dow Jones dropped 100 points. The drop, dubbed “Tweet crash,” illustrated the power of social media on a jittery Wall Street. 

Once reports surfaced that the Twitter account had been hacked, the index roared back.

AP Tweet momentarily craters market