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22 | 22 |
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23 | 23 | ```mermaid |
24 | 24 | timeline |
25 | | - title The AP Twitter Hack Flash Crash: April 23, 2013 |
| 25 | + title AP Twitter Hack Flash Crash - April 23 2013 |
26 | 26 | section Pre-Hack (Normal Trading) |
27 | | - 1:00-1:06 PM: Normal market activity, Dow at 14,697 |
28 | | - 1:07 PM: Syrian Electronic Army gains access to AP Twitter |
| 27 | + 1300-1306 : Normal market activity, Dow at 14,697 |
| 28 | + 1307 : Syrian Electronic Army gains access to AP Twitter |
29 | 29 | section The Hack |
30 | | - 1:07:45 PM: Hackers compose fake tweet |
31 | | - 1:08:00 PM: Tweet posted to AP's 2M followers |
32 | | - 1:08:15 PM: Retweeted 4,000+ times in 15 seconds |
| 30 | + 130745 : Hackers compose fake tweet |
| 31 | + 1308 : Tweet posted to AP 2M followers |
| 32 | + 130815 : Retweeted 4,000+ times in 15 seconds |
33 | 33 | section Algorithmic Cascade |
34 | | - 1:08:30 PM: HFT algorithms detect keywords (explosion, White House, injured) |
35 | | - 1:08:45 PM: Sentiment scores → maximum negative |
36 | | - 1:09:00 PM: Automated sell orders flood market |
37 | | - 1:09:30 PM: Dow -50 points (30 seconds) |
38 | | - 1:10:00 PM: Dow -143 points total, **$136B market cap evaporated** |
| 34 | + 130830 : HFT algorithms detect keywords (explosion, White House, injured) |
| 35 | + 130845 : Sentiment scores to maximum negative |
| 36 | + 1309 : Automated sell orders flood market |
| 37 | + 130930 : Dow -50 points (30 seconds) |
| 38 | + 1310 : Dow -143 points total, $136B market cap evaporated |
39 | 39 | section Human Recovery |
40 | | - 1:10:15 PM: AP confirms hack via alternate channels |
41 | | - 1:10:30 PM: First human traders recognize false signal |
42 | | - 1:11-1:13 PM: Manual buying begins |
43 | | - 1:13-1:18 PM: Dow recovers fully to 14,697 |
| 40 | + 131015 : AP confirms hack via alternate channels |
| 41 | + 131030 : First human traders recognize false signal |
| 42 | + 1311-1313 : Manual buying begins |
| 43 | + 1313-1318 : Dow recovers fully to 14,697 |
44 | 44 | ``` |
45 | 45 |
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46 | 46 | **Figure 13.0**: The AP Twitter hack flash crash timeline. From fake tweet to $136B loss took 120 seconds. Recovery took 10 minutes—the time required for humans to verify the information and override the algorithms. |
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