On the X platform (formerly Twitter), a popular news account called "Walter Bloomberg" mistakenly shared false information claiming that Trump was considering a 90-day pause on tariffs, excluding China. This post quickly caused chaos in the stock market. Investors reacted immediately, driving a sudden spike in the markets, which reversed shortly after as the truth came to light.
Although the Walter Bloomberg account is not affiliated with any official news agency, it is known for rapidly sharing headlines from the Bloomberg Terminal — a professional platform for financial news and data. Since these headlines often appear before they are officially published online, investors tend to rely on this account for quick updates.
The headline posted by Walter Bloomberg read: “Hassett: Trump is considering a 90-day tariff pause for all countries except China.” However, the White House swiftly denied this claim, stating that economic advisor Kevin Hassett never made such a statement. The confusion stemmed from a vague response Hassett gave during a Fox News interview when asked whether the administration would consider a pause. He merely replied, “The president will decide what the president will decide,” without confirming any such plan.
Walter Bloomberg later clarified that the headline came from Reuters. Reuters, in turn, explained that it was based on an unverified report aired by CNBC. CNBC admitted that in the rush to cover the rapidly changing market, they aired unconfirmed information, but quickly corrected it afterward.
This incident highlights how the spread of inaccurate or incomplete information — especially when shared through platforms with influence over financial markets — can have serious real-world consequences. Unverified news on social media doesn't just amount to misinformation; it can trigger billion-dollar swings in the market. It underlines the enormous responsibility of both media organizations and social media users in verifying facts before broadcasting them.
