What happened in the U.S. stock market? At 10:10 AM (Eastern Time), rumors emerged that the White House was considering a '90-day tariff pause.'
At 10:15 AM, CNBC reported that Trump was considering a 90-day suspension of tariffs for all countries except China.
By 10:18 AM, the S&P 500 had gained over +$3 trillion in market capitalization.
At 10:25 AM, reports emerged that the White House 'does not know' that Trump is considering a 90-day suspension.
At 10:26 AM, CNBC reported that the information about the 90-day tariff pause was incorrect.
At 10:34 AM Eastern Time, the White House officially called the headlines about the tariff pause 'fake news.'
By 10:40 AM, the S&P 500 had lost $2.5 trillion in value from its peak. Banksta