this post was submitted on 07 Apr 2025
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Multi-trillion-dollar stock market swings on Monday appear to have been set off by false reports on Elon Musk's X. Experts say the episode highlights the social media site's enduring relevance, even as it helps amplify falsehoods.

How did it happen?

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[–] kn0wmad1c@programming.dev 39 points 1 week ago (2 children)
[–] cabbage@piefed.social 19 points 1 week ago (2 children)

Yeah. Money is not lost in finance markets, it is redistributed. Reading any of this as random and/or unintentional is beyond naive.

[–] drosophila@lemmy.blahaj.zone 6 points 1 week ago

IDK, it wouldn't be the first time a news org published some random shit as fact because they're too eager to be the first to report on something.

https://www.sfgate.com/bayarea/matier-ross/article/KTVU-producers-fired-over-Asiana-pilots-fake-4685627.php

[–] SouthEndSunset@lemm.ee 5 points 1 week ago (1 children)
[–] prole@lemmy.blahaj.zone 4 points 1 week ago* (last edited 1 week ago)

I prefer "siphoned"

[–] Ulrich@feddit.org 5 points 1 week ago (2 children)

...by whom? A random Twitter user? CNBC? Reuters?

[–] cabbage@piefed.social 4 points 1 week ago (1 children)

Anyone who could make this news break would be in a position to steal unfathomable amounts of money in broad daylight, and get away with it.

I think we should always suspect bad actors in cases like this, and investigate thoroughly. It's too easy of a scam with too much money to be made.

Maybe there is nobody to blame. But assuming so just seems incredibly naive to me considering the amount of bad actors and the ease of pulling a stunt like this.

[–] Ulrich@feddit.org 2 points 1 week ago (2 children)

Anyone who could make this news break would be in a position to steal unfathomable amounts of money in broad daylight, and get away with it.

They'd also have to be in a position to lose a ridiculous amount of of money in the extremely likely case that no one looks twice at their completely unsupported Tweet.

Should we look at it? Absolutely. Do I see any evidence? No. Literally anyone could have tweeted the same thing. The far more likely scenario, in my eyes, is that these news orgs saw this Tweet picking up traction from a bunch of idiots and couldn't take the risk of being the last one to report the "news", and so went ahead and reported completely unfounded non-sense anyway.

[–] echodot@feddit.uk 2 points 1 week ago (1 children)

went ahead and reported completely unfounded non-sense anyway.

The White House is now such a mess I don't know how organizations would even go about verifying this anyway. You can ask for an official statement and it's just a random guess by someone these days, it's not an official statement of policy.

[–] Ulrich@feddit.org 1 points 1 week ago* (last edited 1 week ago)

Could be, but that's on the White House, not the reporters. Not the case here.

[–] Prime_Minister_Keyes@lemm.ee 1 points 1 week ago (1 children)

If you control social media, you also control who gets to see what in their feeds.

[–] Ulrich@feddit.org 1 points 1 week ago (1 children)

So you think Elon was behind this?

[–] Ledericas@lemm.ee 1 points 1 week ago (1 children)

why not, hes losing billions in tesla right now, he probably also wants to make others who helped him recoup some lossess.

[–] Ulrich@feddit.org 1 points 1 week ago

The question is not "why not", the questions is "why do you think that?"

[–] KeenFlame@feddit.nu 1 points 1 week ago (1 children)

The only ones that do this are hedge funds. Adult Frat boys.

[–] Ulrich@feddit.org 1 points 1 week ago* (last edited 1 week ago) (1 children)

Okay, and what did the "adult frat boys" do, exactly?

Also worth noting that the White House has now confirmed the 90 day tariff freeze.

[–] KeenFlame@feddit.nu 1 points 5 days ago (1 children)

They do various schemes to manipulate and extract money from the free markets.

It's not a conspiracy, they are quite open even with their methods, because they are.... Bragging... About it.

[–] Ulrich@feddit.org 1 points 5 days ago* (last edited 5 days ago) (1 children)

Great, so you shouldn't have any problem explaining exactly what they did?

[–] KeenFlame@feddit.nu 1 points 2 days ago (1 children)

How do you reckon that? Not a little antoganistic haha. Good luck in life like that

[–] Ulrich@feddit.org 1 points 2 days ago (1 children)

...because you just said they're "quite open with their methods"...?

[–] KeenFlame@feddit.nu 1 points 2 days ago (1 children)

They are. How does that make me know what they did if they did anything?

[–] Ulrich@feddit.org 1 points 2 days ago (1 children)

I honestly don't know how to be more clear about this.

[–] KeenFlame@feddit.nu 1 points 1 day ago (1 children)

We are on the topic of market manipulation. Hedge fund sociopaths have this as their job. They generate value by managing the richest families' fortune and use the leverage to find loopholes and scemes to compete with each other. Most happens at the microsecond level between robots hosted on prime real estate meters from the transactions made at Dow to reduce the already vanishingly miniscule delay that cable and switch hops can add to the rapid fire buy and sell patterns used to defuse or lure the other bots. Into these spinning wheels they parcel all actual buy and sells from the retail investors app and use as ammunition. The strategy for the Frat boys is not at this quantum level. They organize schemes. Different types of scams to trick money from anyone stupid enough to fall for it. Afterwards, when they are fined (several daily) for every transgressions, and it's a lot cheaper than what they made. By orders of magnitude. So they are never accountable and can be open about their operations. If this was one such we will soon see who made what, since after a set amount of days they have to disclose their positions. Then they congratulate each other on who made most. Hope it helps.

Also, I might add that your hostile manner is honestly funny to observe but remember that it shortens your lifespan. It won't mean much at your age but at some point, you will probably come to enjoy life and rue your angry years that turned your liver into a nesting doll and mind into a perforated pachinko course of irritability

[–] Ulrich@feddit.org 1 points 1 day ago (1 children)

You're giving a lot of generic explanations instead of anything that applies to this specific scenario.

your hostile manner is honestly funny to observe

I wasn't being hostile at all.

[–] KeenFlame@feddit.nu 1 points 2 hours ago (1 children)

Yes you are. I don't as I said understand what the fuck made you leap to that I personally should explain to you some specific event I will not. Mostly because of your manners. Better luck next time

[–] Ulrich@feddit.org 1 points 1 hour ago

Yes you are.

You are the only one being hostile, Mr. or Ms. Flame.

I don't as I said understand what the fuck made you leap to that I personally should explain to you some specific event I will not

Because you personally claimed that "they are quite open even with their methods, because they are.... Bragging... About it." so if it was open and they were bragging, then surely you would know about it? You don't have to answer the question, I was just curious. If you don't know, it's okay to just say that too.