TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer spoke at the Financial Times Future of News event in New York City Thursday about how fake news impacts markets.
Cramer recalled a time in the 1980s when he received multiple phone calls from people saying that department store Dayton Hudson was going to receive a bid, something that generally sparks deep movements in stock prices.
"The whole thing was phony," Cramer said.
Cramer was interviewed by billionaire investor Ken Fisher, Chairman of Fisher Investments.
Watch Jim Cramer's entire talk about how fake news affects markets.