Bill Gates "dead" rumour causes panic in South Korea

An unsubstantiated rumour that Bill Gates had been shot dead in Los Angeles caused share prices on the South Korean stock exchange to slump as panic selling ensued.

The rumour, started on a web site, was broadcast over South Korean TV and that caused other South Korean networks to start repeating the rumour.

Shares fell by 1.5 per cent and were set to slump further except that the rumours were subsequently nipped in the bud and the Seoul bourse recovered from its temporary panic attack.

Even if Bill Gates was dead, we don't particularly see why share prices should fall anyway, but then no one understands how stock exchanges work, least of all traders and financial analysts.

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