Submitted 11 months ago by Tea@programming.dev to technology@lemmy.world
https://text.npr.org/nx-s1-5355055
Multi-trillion-dollar stock market swings on Monday appear to have been set off by false reports on Elon Musk’s X. Experts say the episode highlights the social media site’s enduring relevance, even as it helps amplify falsehoods.
How did it happen?
Isnt that blatant market manipulation? Rule of law is thing in the past now.
I saw the video. A reporter asked if the president would consider a 90 day pause and the white house guy responds with “yeah, well, you know, the president is going to do what he wants to do.”
But the first thing out of the fucking guys mouth was “yeah”. So of course the reporter is going to run with it when it was literally just a filler word cuz the dude didn’t know how to answer the question.
the twitter post didn’t cause it to happen the idiot in the white house did with his stupid trade war.
What was that they said during the stupid reddit thingy with stock markets? “It’s not a casino”?
I mean kinda. Except that the odds are actually stacked in your favor.
About a minute later, it was posted by the X account “Walter Bloomberg,” which has more than 850,000 followers. Although the account is not affiliated with Bloomberg News, it often shares the news organization’s headlines. The account’s boosting of the false headline prompted chatter among CNBC analysts on live television about a possible 90-day reprieve from Trump’s tariffs.
This ist the dumbest fucking timeline.
What do you mean? I get my news from John Fox and Peter Newsmaxx
Tom BroFox and Peter JenNewsmaxx? Legendary newscasters.
You got your laptop from Tim Apple, right?
It was a pump-and-dump scam, I’m almost sure of it.
Someone made millions off of that Xeet.
consider that profiting off volitility and lazyness is generally a good strategy.
Someone made millions off of that Xeet.
I prefer to call them Xcrements
Xat
In statements to NPR, Reuters said it has withdrawn the incorrect report, blaming a headline published on CNBC.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?
Market manipulation
…by whom? A random Twitter user? CNBC? Reuters?
Yeah. Money is not lost in finance markets, it is redistributed. Reading any of this as random and/or unintentional is beyond naive.
Do it again pls
these are the people who are leading us into a recession… they fall for a fucking random tweet…
Actually, the tweet was accurate.
Maybe it was deliberate cause it’s all a big game.
You’re so full of shit, this isn’t a recession.
This is a proper depression, just like the last time people fucked with tariffs.
It’s kind of frightening that people who control that much capitol are apparently unaware that social media is not gospel truth.
They probably care less about whether it is true, and more about whether they can get their buy in before everybody else.
Not just that, but "Reuters and CNBC reported it" as well. It snowballed from X to mainstream news then back to X again and back to people talking in "reputable" news again, again and again.
At this point I'm wondering just how much if any that mainstream for-profit media is any better than X at reporting anything at all.
It’s not. Which is why I’ve barely paid any attention to it in my entire adult life.
That’s the neat part.
Ever since ‘journalism’ has been reduced to reposting social media posts, there is very little reputation to be had.
mlg@lemmy.world 11 months ago
2025 and people are still treating X as a source of information.
youtube comments section has more reliability than what Twitter ever did
Ledericas@lemm.ee 11 months ago
X where are all musk bros, and trumpers are the one holding the bags.