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Less than an hour ago, a hacker compromised the main Twitter account for the Associated Press (followed by 2 million users), which caused the stock market to temporarily crash.  The hacked tweet sent by the account @AP read, Breaking: Two Explosions in the White House and Barack Obama is injured.

The AP sent a follow-up tweet several minutes later indicating that the initial tweet was not true and tweeted: "The @AP Twitter account has been suspended after it was hacked. The tweet about an attack on the White House was false."

Immediately after the false tweet was posted, the Dow Jones Industrial Average and the S&P 500 took drastic nosedives but quickly rebounded. 

The Syrian Electronic Army ("SEA") is taking credit for the compromise, but has not provided any evidence. Just a few days ago, Twitter suspended SEA's account after SEA took responsibility for hacking @60Minute, @48Hours and @CBSDenver.

As evidenced by the role it played in the recent terrorism attacks in Boston, social media is becoming more powerful by the minute. Unfortunately, the frequent inaccuracies coming from the various social media outlets are significantly impacting the security and financial status of the nation.