A naukri.com initiative
Blockonomi
1w
106
Image Credit: Blockonomi
False Tariff Pause Report Causes $2.4 Trillion Market Swing, Bitcoin Briefly Hits $80,000
- A false news report about a 90-day tariff pause by Trump caused markets to briefly surge by $2.4 trillion before quickly crashing.
- The rumor originated from a verified “Walter Bloomberg” X account, not affiliated with Bloomberg News.
- Markets reacted swiftly, with the S&P 500 spiking 8%, Nasdaq adding 9.5%, and Bitcoin briefly hitting $80,000.
- The White House promptly denied the report as 'fake news,' leading to the erasure of all market gains within minutes.
- Analysis suggests that the rapid market response indicates significant capital poised to enter based on positive news.
- The market swung dramatically, adding and then erasing $2.4 trillion over 30 minutes due to the false news report on U.S. tariffs.
- The misinformation emerged from a verified X account posing as 'Walter Bloomberg,' creating market sensitivity to trade policy news.
- The volatility led to the S&P 500, Nasdaq, and Bitcoin experiencing notable price fluctuations before correction.
- The White House clarified the situation, debunking the fake news report and causing the swift reversal of market gains.
- Market analysts highlighted the importance of the incident in revealing market readiness to respond to significant news developments.
Read Full Article
6 Likes
For uninterrupted reading, download the app