

Ask HN: Why the sell-frenzy from the fake news?  - rikacomet

I'm wondering, why was a 200 billion $ sell off was triggered by a fake twitter news, when the news was only that Obama got hurt. Its not as if, Saudi Arabia banned exports of Oil. :?
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lutusp
Most news items, real or fake, that suggest social instability, provoke sell-
offs because commerce and the value of businesses decline in uncertain times.

Also there's the fact that some market players spend their time trying to
anticipate what other people are thinking. And if the consensus is that the
average investor is going to panic and sell, then those market monitors will
try to exploit mass psychology by selling in advance.

> ... when the news was only that Obama got hurt ...

The fake story (and it was totally fake) was that there had been an attack on
the White House and the the president was injured. Frankly, I can't think of a
more alarming news story.

