4 ways to prevent a market reaction to a Twitter hack attack

05/1/2013 | Wall Street & Technology

A tweet that claimed President Barack Obama had been injured in an explosion caused the Dow Jones industrial average to fall and brought focus to the unreliability of information posted on social networking platforms. It is highly recommended that trading firms and algorithms avoid getting their news from platforms such as Twitter and that the firms install software that prevents algorithms from making impulsive trades. Instead, traders should rely on creditable news sources because not only is Twitter open to anyone, but even reliable sources on Twitter can be hacked and misinformation can be spread quickly.

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