The US stock market witnessed a spectacular "pump-dump" with a market cap reaching over $5.5 trillion in less than 30 minutes, all stemming from an unverified rumor.
- 09:10 PM (VN Time): Rumors emerged that the White House is considering delaying tariffs for 90 days.
- 09:15 PM: CNBC reported that former President Trump is considering a 90-day delay on tariffs for all countries, including China.
- 09:18 PM: The S&P 500 increased nearly $3 trillion in market cap in just a few minutes.
- 09:25 PM: Reports indicate that the White House has denied the delay of tariffs.
- 09:26 PM: CNBC acknowledged that the information about the delay of tariffs was inaccurate.
- 09:34 PM: The White House officially denied the rumors regarding the delay of tariffs.
- 09:40 PM: The S&P 500 erased $2.5 trillion in market cap that it had just gained in the previous 22 minutes.
This is the first time in history that the US stock market has witnessed a rumor that could cause a market cap fluctuation of up to $5.5 trillion in such a short time. 😰
During this same period, Bitcoin also experienced a major wave, rising from $76,000 to $81,200 before adjusting back to around $78,000.
**Source:** The Kobeissi Letter
