Associated Press Twitter Hacked; Market Tanks

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If you're one of those who doubts the power of social media, check out what happened to the Dow-Jones today when the Associated Press' Twitter account was hacked and the following tweet appeared:

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A precipitous drop occurred on the tweeted "news" that the president had been injured in a bombing incident at the White House.

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AP quickly regained control of its site and tweeted that it had been hacked, but the response from Wall Street clearly illustrates the damage that can be wreaked when social media mischief occurs. As one wag tweeted:

"Somewhere the Twitter CEO is stroking a white cat saying 'excellent' realizing Twitter can tank the market."

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