Fake news is a big issue for Wall Street

        A post from Dow Jones Newswire posted a story stating that Google was going to buy Apple for 9 billion dollars. If this story were true, it would have been an utterly explosive story. The reasoning it would have been a thoroughly crazy story is because Apple is worth 800 billion dollars. In the article, it states, “Google Chief Executive Larry Page had secret talks with the now-deceased Steve Jobs in 2010 to firm up the deal.” (Merle, Washington Post) Dow Jones had stated that he accidentally posted the story and deleted it after just a few seconds for a technology test. The reason why this isn't good for Wall Street is that Apple stock jumped from $158 to $155 in the span of few second from the fake news article. The reason it's so crucial is that fast trader by bots updates the stocks and any news within microseconds. Now that technology has come more into power it's technology doing all the work and updating the stocks. The reason the bots isn't that reliable because a fake tweet happened twice the first fake tweet was about the White House sending markets on a roller coaster ride. The second fake tweet was from the White House tweeted again that Gary Gohn was resigning sent stocks falling down. In the article important quote states, "This is why the machines, no matter how smart, are never going to be as sophisticated as a human,” said Tom Lin, a law professor at Temple University, who has studied the impact of technology on financial markets. “The bots cannot discern humor or nuance. They have no real context. They are just going to execute it on whatever they see.” (Merle, Washington Post)

https://www.washingtonpost.com/news/business/wp/2017/10/12/why-fake-news-is-a-problem-for-wall-street/?utm_term=.81eec469a395