Comment on How a false X post about pausing tariffs led to multi-trillion-dollar market swings.
Ulrich@feddit.org 1 week ago
In statements to NPR, Reuters said it has withdrawn the incorrect report, blaming a headline published on CNBC. When asked for comment, CNBC said it “aired unconfirmed information in a banner,” which it “quickly” corrected.
What in the absolute fuck?
kn0wmad1c@programming.dev 1 week ago
Market manipulation
cabbage@piefed.social 1 week ago
Yeah. Money is not lost in finance markets, it is redistributed. Reading any of this as random and/or unintentional is beyond naive.
drosophila@lemmy.blahaj.zone 1 week ago
IDK, it wouldn’t be the first time a news org published some random shit as fact because they’re too eager to be the first to report on something.
sfgate.com/…/KTVU-producers-fired-over-Asiana-pil…
SouthEndSunset@lemm.ee 1 week ago
Redistributed up.
prole@lemmy.blahaj.zone 1 week ago
I prefer “siphoned”.
Ulrich@feddit.org 1 week ago
…by whom? A random Twitter user? CNBC? Reuters?
cabbage@piefed.social 1 week ago
Anyone who could make this news break would be in a position to steal unfathomable amounts of money in broad daylight, and get away with it.
I think we should always suspect bad actors in cases like this, and investigate thoroughly. It's too easy of a scam with too much money to be made.
Maybe there is nobody to blame. But assuming so just seems incredibly naive to me considering the amount of bad actors and the ease of pulling a stunt like this.
Ulrich@feddit.org 1 week ago
They’d also have to be in a position to lose a ridiculous amount of of money in the extremely likely case that no one looks twice at their completely unsupported Tweet.
Should we look at it? Absolutely. Do I see any evidence? No. Literally anyone could have tweeted the same thing. The far more likely scenario, in my eyes, is that these news orgs saw this Tweet picking up traction from a bunch of idiots and couldn’t take the risk of being the last one to report the “news”, and so went ahead and reported completely unfounded non-sense anyway.
KeenFlame@feddit.nu 1 week ago
The only ones that do this are hedge funds. Adult Frat boys.
Ulrich@feddit.org 1 week ago
Okay, and what did the “adult frat boys” do, exactly?