One tweet wreaked havoc in the stock market!
If you invest in the stock market, then you will know that one news can both make the market rise and fall. This is the reason why news related to the stock market is published only when it is completely correct. However, in this era of fake news, sometimes some people affect the stock market by spreading wrong news. Something similar happened with the US markets on monday morning.
One news shook the whole world
On monday morning, a rumor started from an unknown account on social media platform X shook the entire stock market. According to a CNN report, at 10:11 am on monday, a small account named 'Hammer Capital', which had only 1,000 followers, claimed that the trump administration was considering a 90-day ban on tariffs imposed on countries other than China. Just 2 minutes later, a big account named 'Walter Bloomberg', which has 800,000+ followers, made this news viral.
Sudden surge in markets
After this news, there was an immediate reaction in the New York Stock Exchange. The market which was falling, suddenly gained momentum and a wave of happiness ran among the investors. Even big business news channels like CNBC started broadcasting this news as breaking news without confirmation. Due to this, a more rapid reversal was seen in the market.
white house denial
However, soon the white house called this news completely false. After this the markets started falling again. CNBC and Reuters had to admit their mistake and even had to issue an apology. The 'Walter Bloomberg' account deleted its post and claimed that they had taken this news from Reuters.
What was the real story of the news?
Actually, Fox news had taken an interview of Kevin Hassett, director of the National Economic Council. In this interview, when he was asked if the President would consider a halt on tariffs, he simply said, "Whatever the President decides, that will happen." But someone misinterpreted it to mean that trump could halt tariffs for 90 days.
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