US EditionThe False Tariff Headline That Sent Stocks on a $2 Trillion Ride
- An unfounded claim about President Donald Trump considering a 90-day tariff pause briefly caused U.S. stocks to soar, indicating current market volatility.
- The White House later confirmed that the claim was false and clarified that no such pause had been proposed.
- The false reports caused market fluctuations worth $2.4 trillion within a ten-minute window, according to Dow Jones Market Data.
- Experts noted that social media's rapid spread of rumors without verification poses significant risks to market stability, as highlighted by Kate Starbird from the University of Washington.
75 Articles
75 Articles
What the stock market sell-off really says about the US economy
The stock market has been on a serious roller coaster ride this week after false reports that President Trump was pausing his reciprocal tariffs for 90 days began making the rounds on the news and social media. “We were watching it bounce back, and then all of a sudden it dropped back down again...
The news that US President Donald Trump could suspend the tariffs for 90 days, caused a $2.4 trillion jump on Wall Street in no time at all. Now there are indications as to how the misinformation came about.
How an Errant Headline Caused Markets to Surge
Markets see-sawed wildly Monday before ultimately ending slightly lower , thanks in part to what the Trump administration referred to as "fake news" regarding tariffs. What happened, per CNN and NBC News : At around 8:30am Eastern time, Fox News interviewed National Economic Council Director Kevin Hassett, who was asked whether...
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