False Report on Trump’s Tariff Pause Sparks Wall Street Chaos

Amid a turbulent morning on Wall Street, a false report posted by the popular news aggregator account, Walter Bloomberg, caused significant market volatility. The false headline, stating that President Trump was considering a 90-day pause on his tariff proposal, led to sharp swings in the stock market. Index funds like the Dow Jones surged and then reversed course in a matter of minutes, triggering widespread concern among investors.

Despite not being affiliated with any news organization, Walter Bloomberg is often seen as a reliable source of business news. The account aggregates headlines from the Bloomberg Terminal, a costly service used by financial professionals for real-time market updates. On Monday, erroneous reports from CNBC and Reuters, which were later amplified by Walter Bloomberg, played a key role in the market turmoil, especially during an already volatile day.

The false report on X, which was later deleted, claimed that Kevin Hassett, Trump’s National Economic Council director, had stated that Trump was considering a 90-day tariff pause for all countries except China. The White House quickly responded, denying the claim and clarifying that no such statements had been made. They also pointed out that the misleading headline had been based on a conversation on Fox News, which was misinterpreted.

In the aftermath, Walter Bloomberg explained that the incorrect information had come from Reuters, which in turn blamed CNBC for the initial reporting error. Reuters issued a statement retracting the false report and expressing regret over the incident. The chain of misinformation highlights the potential impact of inaccurate news in the fast-paced financial world, where false reports can trigger dramatic market movements.

Source: tech crunch