Here's what happened:

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  1. The Associated Press Twitter account was hacked Tuesday. The tweet claimed that President Barack Obama was injured in two explosions in the White House.
  2. Within minutes the @AP Twitter account was suspended and the Associated Press' corporate communication Twitter account announced that the tweet about the explosions in the White House and President Obama's supposed injury was false.
  3. But in those few minutes that the tweet was up, it was retweeted thousands of times.
  4. It wasn't long before people figured out that the tweet was erroneous and that the AP's Twitter account had gotten hacked.
  5. Even so, in those few minutes of uncertainty, the S&P 500 tanked. It recovered pretty soon.
  6. A group that calls itself the "Syrian Electronic Army" is claiming credit for hacking the AP's official Twitter feed.
  7. The "Syrian Electronic Army" are also claiming credit for two other similar attacks on Twitter feeds run by CBS News and NPR's content management system.
  8. Despite the excitement on Twitter, the hacking of AP's twitter account and the erroneous tweet about President Obama being injured are unlikely to have any lasting impact.
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