Market Turmoil Triggered by False Tariff Pause Rumor
- Rumors of a 90-day tariff pause for all countries except China emerged at 10:10 AM ET.
- The S&P 500 gained over $3 trillion in market cap by 10:18 AM ET.
- By 10:25 AM ET, the White House denied any such plan, calling it “fake news.”
- The S&P 500 lost $2.5 trillion in market cap by 10:40 AM ET.
- Bitcoin surged to over $81,200 before falling back to around $77,560.
A rumor about a potential U.S. tariff pause caused significant volatility in financial markets. The S&P 500 initially gained over $3 trillion but then lost $2.5 trillion after the White House dismissed the news as false. Bitcoin also experienced sharp fluctuations during this period.
Source (2.6)https://www.newsbtc.com/news/bitcoin/bitcoin-whipsaws-fake-tariff-bombshell-news/?rand=52377
