I saw a few blog posts out during the Boston bombing and the subsequent car chase the day or so after. They were praising twitter and how it was now the new tape and the real source for instant news. Hey I'm all for new technology as much as the next guy but you have to keep in mind what twitter is: an unfiltered and noisy crowd.
Today was a case in point:
I saw it in the afternoon and had a WTF moment. Apparently AP's twitter was hacked and falsely reported a bombing at the White House. Market's reacted and plummeted.
So keep that in mind, with instant news also comes instant risk.