Actual 'fake news' caused a market whiplash – CNN Business
a year ago
- #Stock Market
- #Misinformation
- #Social Media
- An unsourced post on X about a '90-day pause in tariffs' caused stock market turbulence.
- The rumor was quickly denied by the White House, but not before affecting market movements.
- The false information may have originated from a misinterpreted Fox News interview with Kevin Hassett.
- Accounts like 'Hammer Capital' and 'Walter Bloomberg' amplified the rumor, leading to a temporary market surge.
- CNBC initially reported the unconfirmed news, contributing to the spread of misinformation.
- Reuters also picked up the story, later issuing a correction and expressing regret for the error.
- The incident highlights the risks of unverified information in financial markets and the importance of reliable reporting.
- Both 'Hammer Capital' and 'Walter Bloomberg' distanced themselves from creating the false headline, blaming other sources.
- CNBC acknowledged the mistake, stating they aired unconfirmed information in the heat of real-time reporting.