Tariff delay rumour briefly lifts stocks before denial

In response to a rumor that President Donald Trump was considering a pause in tariffs, markets briefly surged before the White House debunked the unfounded reports, causing the Dow Jones Industrial Average to fluctuate wildly. The confusion stemmed from a misinterpretation of comments made by Kevin Hassett, director of the White House National Economic Council, leading to a temporary surge in the market and subsequent plunge. The White House quickly dismissed the rumor as “fake news” after a brief period of uncertainty, reflecting the jittery mood on Wall Street surrounding Trump’s tariffs and their potential impact on the global economy.

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