Pentagon Denies Reports Of Explosion: Market Dips After Fake Tweets
Portfolio Pulse from Adam Eckert
Markets experienced volatility after a fake tweet claimed an explosion near the Pentagon. The Department of Defense denied the claim and the tweet was deleted. The SPDR S&P 500 (NYSE:SPY) dipped briefly before recovering.
May 22, 2023 | 3:17 pm
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NEUTRAL IMPACT
The SPDR S&P 500 (NYSE:SPY) experienced a brief dip after a fake explosion tweet before bouncing back.
The fake explosion tweet caused a brief dip in the SPY, but the market quickly recovered after the Pentagon denied the claim. The impact on the SPY is neutral in the short term as the situation has been resolved.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100