Down 150 Points in 140 Characters
Yesterday a rogue tweet from the hacked AP’s account sent markets spinning. The Dow dropped nearly 150 points when the tweet suggested that the White House was under attack. In a week of reflection on the role of the media in covering events this tweet shows the major role the media plays in shaping public opinion.
The AP as a brand holds well-earned cache in journalism, but the hacking disruption shows how easily damage can happen. This event showcases the intersection of finance, marketing and consumption–all issues we learn about in this program. It shows how quickly automated finance markets respond to PR and marketing information. As future marketers we need to understand the ethical issues that underly our work. We have a responsibility to be accurate.
As an avid twitter user, I certainly am concerned about maintaining my own account on the social network (not that my account move markets). This issue concerns both Twitter as a service and a marketing tool. If you are similarly concerned check out Mashable’s rundown of the AP tweet controversy here and get your password analyzed.