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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[–] [email protected] 15 points 5 days ago (1 children)

2025 and people are still treating X as a source of information.

youtube comments section has more reliability than what Twitter ever did

[–] [email protected] 3 points 5 days ago

X where are all musk bros, and trumpers are the one holding the bags.

[–] [email protected] 11 points 5 days ago

Isnt that blatant market manipulation? Rule of law is thing in the past now.

[–] [email protected] 8 points 6 days ago

the twitter post didn't cause it to happen the idiot in the white house did with his stupid trade war.

[–] [email protected] 4 points 6 days ago

I saw the video. A reporter asked if the president would consider a 90 day pause and the white house guy responds with "yeah, well, you know, the president is going to do what he wants to do."

But the first thing out of the fucking guys mouth was "yeah". So of course the reporter is going to run with it when it was literally just a filler word cuz the dude didn't know how to answer the question.

[–] [email protected] 93 points 1 week ago (1 children)

About a minute later, it was posted by the X account "Walter Bloomberg," which has more than 850,000 followers. Although the account is not affiliated with Bloomberg News, it often shares the news organization's headlines. The account's boosting of the false headline prompted chatter among CNBC analysts on live television about a possible 90-day reprieve from Trump's tariffs.

This ist the dumbest fucking timeline.

[–] [email protected] 32 points 1 week ago (2 children)

What do you mean? I get my news from John Fox and Peter Newsmaxx

[–] [email protected] 11 points 6 days ago (1 children)

You got your laptop from Tim Apple, right?

[–] [email protected] 2 points 5 days ago

I got my jobs from Steve wait I did this wrong

[–] [email protected] 1 points 5 days ago

Tom BroFox and Peter JenNewsmaxx? Legendary newscasters.

[–] [email protected] 84 points 1 week ago (2 children)

It's kind of frightening that people who control that much capitol are apparently unaware that social media is not gospel truth.

[–] Zink 5 points 6 days ago

They probably care less about whether it is true, and more about whether they can get their buy in before everybody else.

[–] [email protected] 58 points 1 week ago (2 children)

Not just that, but "Reuters and CNBC reported it" as well. It snowballed from X to mainstream news then back to X again and back to people talking in "reputable" news again, again and again.

At this point I'm wondering just how much if any that mainstream for-profit media is any better than X at reporting anything at all.

[–] msage 18 points 1 week ago (2 children)

That's the neat part.

Ever since 'journalism' has been reduced to reposting social media posts, there is very little reputation to be had.

[–] [email protected] 2 points 5 days ago

especially reposting only X, AND TRUTH SOCIAL post.

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[–] [email protected] 5 points 1 week ago

It's not. Which is why I've barely paid any attention to it in my entire adult life.

[–] [email protected] 67 points 1 week ago (2 children)

It was a pump-and-dump scam, I'm almost sure of it.

Someone made millions off of that Xeet.

[–] [email protected] 2 points 6 days ago

consider that profiting off volitility and lazyness is generally a good strategy.

[–] [email protected] 43 points 1 week ago (1 children)

Someone made millions off of that Xeet.

I prefer to call them Xcrements

[–] [email protected] 60 points 1 week ago (1 children)

In statements to NPR, Reuters said it has withdrawn the incorrect report, blaming a headline published on CNBC. When asked for comment, CNBC said it "aired unconfirmed information in a banner," which it "quickly" corrected.

What in the absolute fuck?

[–] kn0wmad1c 37 points 1 week ago (2 children)
[–] [email protected] 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.

[–] [email protected] 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

[–] [email protected] 4 points 1 week ago (1 children)
[–] [email protected] 4 points 6 days ago* (last edited 6 days ago)

I prefer "siphoned"

[–] [email protected] 4 points 1 week ago (2 children)

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

[–] [email protected] 1 points 5 days ago (1 children)

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

[–] [email protected] 1 points 5 days ago* (last edited 5 days 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.

[–] [email protected] 1 points 3 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.

[–] [email protected] 1 points 3 days ago* (last edited 3 days ago) (1 children)

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

[–] [email protected] 1 points 22 hours ago (1 children)

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

[–] [email protected] 1 points 22 hours ago (1 children)

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

[–] [email protected] 1 points 16 hours ago (1 children)

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

[–] [email protected] 1 points 16 hours ago (1 children)

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

[–] [email protected] 1 points 2 hours ago

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

[–] [email protected] 2 points 6 days 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.

[–] [email protected] 2 points 6 days 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.

[–] [email protected] 2 points 6 days 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.

[–] [email protected] 1 points 5 days ago* (last edited 5 days ago)

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

[–] [email protected] 1 points 5 days ago (1 children)

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

[–] [email protected] 1 points 5 days ago (1 children)

So you think Elon was behind this?

[–] [email protected] 1 points 5 days 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.

[–] [email protected] 1 points 5 days ago

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

[–] [email protected] 44 points 1 week ago (3 children)

these are the people who are leading us into a recession… they fall for a fucking random tweet…

[–] [email protected] 0 points 5 days ago

Actually, the tweet was accurate.

[–] [email protected] 4 points 1 week ago

Maybe it was deliberate cause it’s all a big game.

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[–] [email protected] 13 points 1 week ago

Do it again pls

[–] ICastFist 12 points 1 week ago (1 children)

What was that they said during the stupid reddit thingy with stock markets? "It's not a casino"?

[–] [email protected] 1 points 5 days ago

I mean kinda. Except that the odds are actually stacked in your favor.

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