Recent fake news that US President Donald Trump was considering a 90-day pause in tariffs shows the potential for a strong market rebound should a real one take place, according to observers.
A fake news post on X on April 7 from the verified “Walter Bloomberg” account claimed that the White House was considering a 90-day pause on tariffs following an interview with Kevin Hassett, one of Donald Trump’s economic advisers.
“Hassett: Trump is considering a 90-day pause in tariffs for all countries except China,” read the now-deleted post from the user, who is not affiliated with Bloomberg News.
The account, which has a verified badge and 852,000 followers, caused quite a stir after the rumor was mistakenly aired as a banner on CNBC and then amplified by Reuters.
The SP 500 spiked more than 8% from its low on the day in reaction, the Nasdaq added 9.5% in less than an hour and the Dow Jones pumped 7%, adding trillions to stock markets.
Bitcoin ( BTC ) prices saw a similar spike, with the asset pumping 6.5% to top $80,000 briefly before falling back again.
The official White House “Rapid Response” account quickly posted on X that this was fake news, and markets began to dump again.
