Mini Flash Crashes in Major Indexes Result from Fake Tweet

Here's the 3-minute charts highlighting the latest mini flash crashes, this time in the major indexes at 1 PM due to a fake tweet that said the Whitehouse was under terrorist attack and that Barack Obama has been injured. The Whitehouse immediately rebuffed the story and in quick order everyone realized it was a hoax. Using the President's first name was the tip-off, since the President's tweets would say 'President' and not use his first name.  The tweet hit the wires at 1:07 PM EST.  Nonetheless, look at the market theatrics.  The Dow Industrials drop from 14705 to 14554, below the opening price, 151 points, -1%, in only four minutes, the whole event took about twelve to fifteen minutes. Each candlestick is three minutes of trading time.

The SPX drops from 1578 to 1562, 16 handles, -1%.  The Nasdaq drops from 3272 to 3241,  31 points, -1%. All three indexes dropped the same amount and all three recovered in about fifteen minutes time. You need a scorecard these days to keep track of the ongoing mini flash crashes. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.