00:00How a false headline caused a stock market whiplash
00:03On Monday, a false news report claiming US President Donald Trump
00:13was considering a pause on his sweeping tariffs
00:16sent markets soaring
00:18before they tumbled back down again
00:20when the White House denied the claims
00:22The origin of the fake news seems to be this interview
00:25with Trump's economic advisor, Kevin Hassett
00:28Will you do a 90-day pause? Would you consider that?
00:31Or a bill? Yeah, you know, I think that the president is going to decide what the president's going to decide
00:36Hassett was then falsely quoted as saying Trump was considering a 90-day pause on tariffs
00:42This is the first instance of the claim that we detected
00:45published a couple of hours later by an account which has a mere 829 followers on X
00:51A more prominent X account under the name Walter Bloomberg
00:55then shared this post, which has since been deleted, citing Reuters
01:00Reuters has since said its source was CNBC
01:03which shared the report live on air as stock markets dramatically surged
01:08I think we can go with this headline
01:10Apparently Hassett's been saying that Trump will consider a 90-day pause in tariffs for all countries
01:16Except for China
01:17Both CNBC and Reuters have since issued corrections
01:21But it was enough to send markets surging dramatically
01:25adding an estimated $2.4 trillion in value
01:29That then evaporated in minutes as the White House shut down the claims
01:35The episode has shown how vulnerable the stock markets can be to misleading or unfounded news headlines
01:42Thanks for listening to.
Commentaires