Stock Market Reacts to Trump's Tariff Plans, Misinformation About Tariff Pause

Global stock markets experienced significant volatility following false reports that President Donald Trump was considering a 90-day pause on tariffs. The fake news reports led to a temporary 8% surge in the plummeting stock market, which fell 3.5% when White House Press Secretary Karoline Leavitt refuted the claim.

The Details: The rumors were based on an interview with the National Economic Council Director, Kevin Hassett, on Fox News (Right bias) where Hassett was responding to billionaire Bill Ackman's call for a 90-day pause. "I think the president is going to decide what the president is going to decide," Hassett said. Several media outlets, including CNBC (Lean Left), mistakenly reported that Trump was considering a 90-day pause on tariffs for all countries except China. Leavitt labeled the reports as “fake news,” resulting in major swings in the stock market.

Where Did the Claim Originate?: While the Daily Caller (Right) said several outlets “misinterpreted” the Fox interview, other outlets said the false claims originated on X. Business Insider (Lean Left) attributed the source of the rumor to X account @DeItaone. NBC News (Lean Left) said the first post came from the @yourfavorito X account.

For Context: This incident comes after a week of significant losses in the global stock market, following Trump's announcement of widespread tariffs on American trade partners. European and Asian stock markets were hit particularly hard, and the American stock market is in its third straight day of losses. 

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