Tag Archives: S&P

Blaming Social Media for the Market Crash: Finger Should Point Elsewhere


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It’s no secret that the stock market is falling faster than someone with cement shoes. The blame game focused on Standard & Poor’s (S&P) downgrading the United States’ credit rating from AAA to AA+. The markets reacted violently, dropping 635 points on August 8. It was enough to get many queasy about their financial futures.

The next day, the markets rebounded. But that didn’t stop the finger pointing from journalists and “experts.” A story in The Atlantic Wire’s technology section by Rebecca Greenfield placed blame on social media, saying it “could be making the market crash worse.”

I usually read these stories because it’s remarkable that they get published, in print or online. This quote is from the initial paragraph of the post: Continue reading