Dow Jones blames 'technical error' for news claiming Google would buy Apple
Dow Jones' newswire service is now saying that a "technical error" was responsible for headlines claiming Google was buying Apple, which may have briefly inflated the latter company's stock price.
"Please disregard the headlines that ran on Dow Jones Newswires between 9:34 a.m. ET and 9:36 a.m. ET," the company said in a statement. "Due to a technical error, the headlines were published. All of those headlines are being removed from the wires. We apologize for the error."
The headlines and their associated story were obviously fake, for instance claiming that Google said "yay," that it would "move into Apple's fancy headquarters," and that shareholders would each get nine shares of Apple stock. The story even suggested that Google would pay just $9 billion, when in reality Apple has over $260 billion in cash reserves alone.
It's not clear where the content came from. Most likely it was test material that was accidentally pushed live.
Apple's price on the NASDAQ notably spiked between 9:30 and 9:40 a.m. Eastern, leaping from $155.98 to $156.47. It began to crash around 9:55 a.m., bottoming out at $155.22 before recovering.