Twitter's temporary outage Tuesday afternoon not only knocked users off the service for an hour or so, but put a temporary 1 percent dent into its stock price.

The pithy social media site went down Tuesday afternoon around 2 p.m. with a resultant short-term drop in its stock price. However, investors shook off the scare and by the closing bell Twitter (TWTR) was up a fraction to $54.02 per share. Although this was down from its high of the day of $55.80.

The short-circuit was reportedly caused by Twitter itself when it implemented an update.

"During a planned deploy in one of our core services, we experienced unexpected complications that made Twitter unavailable for many users starting at 11:01 am. We rolled back the change as soon as we identified the issue and began a controlled recovery to ensure stability of other parts of the service. The site was fully recovered by 11:47 am PDT," the company stated on its site.

During this period users reported they could not re-enter Twitter after logging out. At that time they either received a "down for maintenance" or "something is technically wrong" notification. The severity of the impact could also be found in the messages left on Twitter's Status blog. It noted that the outage impacted most users, normally it describes those blocked as "some" users. 

The perceived importance of Twitter to the world comes out whenever it suffers an outage. Not only was its stock price impacted, but news sites from around the world immediately jumped onto the story. And not just the tech sites, but also mainstream news organizations like the Washington Post and USA Today.