- cross-posted to:
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- cross-posted to:
- [email protected]
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?
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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
What was that they said during the stupid reddit thingy with stock markets? “It’s not a casino”?
It was a pump-and-dump scam, I’m almost sure of it.
Someone made millions off of that Xeet.
Someone made millions off of that Xeet.
I prefer to call them Xcrements
In statements to NPR, Reuters said it has withdrawn the incorrect report, blaming a headline published on CNBC.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.
Redistributed up.
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.
It’s kind of frightening that people who control that much capitol are apparently unaware that social media is not gospel truth.
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.
That’s the neat part.
Ever since ‘journalism’ has been reduced to reposting social media posts, there is very little reputation to be had.
Perhaps especially after this.
It’s not. Which is why I’ve barely paid any attention to it in my entire adult life.
these are the people who are leading us into a recession… they fall for a fucking random tweet…
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.
Do it again pls
