Potential cyber attack on financial system is greatest threat to markets, Guggenheim's Minerd says

CNBC2021-07-09

Guggenheim Chief Investment Officer Scott Minerd said Friday in an exclusive for CNBC PRO that investors were unprepared for the havoc that a cyber attack on key pieces of financial infrastructure ...

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Comments

PC21
2021-07-10
PC21
Any disruption is going to cost big time
ckl888
2021-07-10
ckl888
Agreed. ... it's important for cyber security companies to keep improving against this threats.
CGE
2021-07-10
CGE
Like and comment
- ckww:
  Done
koolgal
2021-07-10
koolgal
The growing importance of cyber security highlights the vulnerability of our computer systems.
WayneLeeYOLO
2021-07-10
WayneLeeYOLO
Greattttttttttt niceeeee
Palantard SG
2021-07-10
Palantard SG
Ok

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPotential cyber attack on financial system is greatest threat to markets, Guggenheim's Minerd says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 22:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/09/potential-cyberattack-on-financial-system-is-greatest-threat-to-markets-guggenheims-minerd-says.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Guggenheim Chief Investment Officer Scott Minerd said Friday in an exclusive for CNBC PRO that investors were unprepared for the havoc that a cyber attack on key pieces of financial infrastructure ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/09/potential-cyberattack-on-financial-system-is-greatest-threat-to-markets-guggenheims-minerd-says.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".SPX","symbol_name":"S&P 500 Index","start_time":0,"source_url":"https://www.cnbc.com/2021/07/09/potential-cyberattack-on-financial-system-is-greatest-threat-to-markets-guggenheims-minerd-says.html","article_id":"1107084554","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/07/09/potential-cyberattack-on-financial-system-is-greatest-threat-to-markets-guggenheims-minerd-says.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1107084554","pubTimestamp":1625840465,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"Guggenheim Chief Investment Officer Scott Minerd said Friday in an exclusive for CNBC PRO that inves","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".SPX":"S&P 500 Index"},"translate_title":"古根海姆的Minerd说，对金融系统的潜在网络攻击是对市场的最大威胁","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".SPX":0.9},"content_text":"Guggenheim Chief Investment Officer Scott Minerd said Friday in an exclusive for CNBC PRO that investors were unprepared for the havoc that a cyber attack on key pieces of financial infrastructure would create.\nMinerd told CNBC’sBrian Sullivanthat his top concern for the market was a potential cyberattack on critical parts of the financial system, outweighing worries about the pandemic or government action.\n“The number one thing, I think, now is the sustainability of the global payments system. In the wake of a number of these cyberattacks, which we’ve seen many, I think it would be very easy to imagine an attack on the digital payment system,” Minerd said, pointing to programs like FedWire and the Depositary Trust Company.\nCybersecurity is a growing concern in multiple industries as multiple high-profile attacks have hit U.S. companies over the past year, includinghospitalsandColonial Pipeline. President Joe Biden signed anexecutive orderin May aimed at strengthening cybersecurity in the U.S.\nThe risk of hackers taking aim at the financial system is not well appreciated by investors, Minerd said.\n“I see us as being exceptionally vulnerable in this area right now, and it’s not something I’m hearing people talk about, which always kind of makes me think that you are more likely to experience it when people aren’t talking about it,” Minerd said. “If that happened, I’d think we’d actually have to close the major exchanges for a period of time, and obviously that would lead to a collapse in stock prices.”\nMinerd is not a cybersecurity expert and he said his concern was based on how he felt markets would react and not on particular technical flaw that he was aware of.\nThe Guggenheim investor has made two correct calls on markets this year, predicting aslide in Treasury yieldsand asharp fall in bitcoin.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":148364852,"gmtCreate":1625932670476,"gmtModify":1703751026198,"author":{"id":"4087611507686430","authorId":"4087611507686430","name":"PC21","avatar":"https://static.tigerbbs.com/a62d208e3b3c4a550849feaa8117655b","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Any disruption is going to cost big time","listText":"Any disruption is going to cost big time","text":"Any disruption is going to cost big time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148364852","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":141233219,"gmtCreate":1625874230531,"gmtModify":1703750122316,"author":{"id":"3584169621525103","authorId":"3584169621525103","name":"ckl888","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Agreed. ... it's important for cyber security companies to keep improving against this threats.","listText":"Agreed. ... it's important for cyber security companies to keep improving against this threats.","text":"Agreed. ... it's important for cyber security companies to keep improving against this threats.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141233219","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":141670708,"gmtCreate":1625872162804,"gmtModify":1703750077004,"author":{"id":"3584000899703971","authorId":"3584000899703971","name":"CGE","avatar":"https://static.tigerbbs.com/b8e167178f9d1ac99fa1763f8545f998","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141670708","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5177795,"gmtCreate":1625879543881,"gmtModify":1663230783045,"authorId":3581586523786578,"author":{"id":3581586523786578,"authorId":3581586523786578,"name":"ckww","avatar":"https://static.tigerbbs.com/bc2cc1ef6533d547201ce880e7c04b9c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":141670708,"type":1,"supId":0,"prevId":0,"content":"<u>Done</u>","text":"<u>Done</u>","html":"<u>Done</u>"}],"langContent":"EN"},{"id":141683207,"gmtCreate":1625866971709,"gmtModify":1703750010391,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1},"htmlText":"The growing importance of cyber security highlights the vulnerability of our computer systems.&nbsp;","listText":"The growing importance of cyber security highlights the vulnerability of our computer systems.&nbsp;","text":"The growing importance of cyber security highlights the vulnerability of our computer systems.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141683207","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":141632057,"gmtCreate":1625860616079,"gmtModify":1703749987050,"author":{"id":"3575710255117321","authorId":"3575710255117321","name":"WayneLeeYOLO","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Greattttttttttt niceeeee","listText":"Greattttttttttt niceeeee","text":"Greattttttttttt niceeeee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141632057","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":141630361,"gmtCreate":1625857579653,"gmtModify":1703749978578,"author":{"id":"3574309605005459","authorId":"3574309605005459","name":"Palantard SG","avatar":"https://static.itradeup.com/news/337dc13df0a91652d56aab40db13a130","vip":1,"crmLevel":3,"crmLevelSwitch":1},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/141630361","repostId":1107084554,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":98,"commentSize":18,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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