The stock market went on a rollercoaster ride this morning, shooting upwards after news circulated online that President Donald Trump was considering a 90-day pause of his global tariff POLICY. However, the white house has gone the information “Fake News.” After it became apparent that trump has no intension of backing down from a policy most economists have dubbed totally Insane, the Market Acted Accordingly and Dropped Like a stone.
It’s unplear exactly where the news originated, although online Chatter and Multiple News Outlets have pointed to it having ben boosted by one particular x account. Business Insider Writes That The tweet came from an account knowledge as “Walter bloomberg” which typically posts headlines and information from news outlets. According to bi, that tweet read: “Hassett: trump is considering a 90-day pause in tarifs for all countes extra Council, who recently went on fox news to discus trump’s tariff policy. The tweet has since being deleted. Gizmodo reached out to the account via email for comment.
However, Around the same time, the news was also briiefly perpetuated by multiple reputable outlets, Including ReutersAn Archived version of the reuters Report Claims that “White House Economic Adviser Kevin Hassett Said in an interview that President Donald Trump was considering a 90-day tariff pause on all counts Indeed, The Walter Bloomberg Account Has Claimed That he first heard the news from reates.
With the apparent news that Trump might roll back his daft economy policy, the market rose precitually – Shooting up 8.5 percetic in 34 minutes, biwws.
However, the white house was quick to shoot down the media reports. Rapid Response 47, which is the Trump Administration’s Social Media Account on X, Quote-tweeted the newsWriting: “Wrong. Fake News.” The Market Promptly Plummed.
Later Monday morning, a bloomberg business reporter came out to disavow any link Between the news outlet and the “walter bloomberg” social media account: “psa: do not relay on walter bloomberg x account.
Barron’s Writes That The tweet may have been a Misundstanding of Hassett’s Monday Morning Interview with Fox. During interview, hasset was asked wheether trump would consider Pausing His Tariffs and Hassett Responded that “The President is going to decide to decide Supposed to mean.
“Insane Market Action Right Now,” Wrote Joe WeisenthalWho Runs bloomberg’s odd lots podcast. “Market Exploded Higher on a Headline Attributeed to Kevin Hassett. And now nobody can figure out where it came from from and the markets are diving again. An 8% Suge and then a 3.5% Suge in a Matter of Seconds. “
Other Web-Rusters Chimed in to Comment on the ridiculousness of the situation. “S & p is now a memecoin,” One X User Wrote,
“You know the economy is real when trillions of dollars can move up and down based on a tweet of a made-up quote,” Said another user,
Another user noted that the account being blamed for the mistake is “verified” by x’s standards, meaning the person operating the account pays a monthly subscription fee in exchange for “Verification for” Twitter verification used to be reserved larger for professional media organizations and was determined by an internal team. Since elon musk took over the platform, anybody can be an expert, as long as they pay musk’s company money. “Twitter letting random users pay $ 8 a month for a verified badge just LED to a $ 4 trillion market mistake caused by fake news,” Someone Wrote,
Trump’s tariff policies have sent the global economy into a tailspin, with critics maintaining that the world is headed for recession. The President has sought to Alleviate Concerns about Evaporating 401ks by coining a new, Deeply Idotic Term: Panican, as in an american who panics. “The united states have a chance to do something In a post to his website, bush social, on monday. “Don’t be weak! Don’T be stupid! Don’t be a panican (a new party based on weak and stupid people!).