A false report on a possible 90 -day break on the widespread prices of President Donald Trump caused massive stock market oscillations – because all the main markets have increased significant losses to significant gains in steep losses in minutes.
Actions have become positive around 10:30 am in a sudden reversal of recent trends, the Dow Jones pulling before falling to a loss of 629 points. The S&P 500 also increased suddenly on Monday morning.
The swings came while CNBC and social media users said that the director of the National Council of the Economy, Kevin Hassett, said that Trump was considering a 90 -day break on prices for all countries other than China.
However, there seems to be no evidence that Hassett has made, and the press secretary of the White House, Karoline Leavitt, described the reports of “false news”.
The markets lost their earnings and returned to their continuous decrease after clarification of the White House.
Rumors seemed to come from an interview that Hassett had given on Fox News, during which he was asked if the administration would consider a 90 -day break as proposed by billionaire Bill Ackman.
“I think the president will decide what the president will decide,” replied Hassett.
“I invite everyone, especially Bill, to facilitate rhetoric a little,” he added.
The roller coaster mountains intervene after the fence of the stock market with a Blood Bath on Friday while the Dow Jones lost 2,231 points and the S&P 500 fell by 6%. Consequently, last week has marked the worst week for the stock market since 2020, and only the fourth time in history that the DOW has lost 2,000 points in one day.
This came after Trump announced at least 10% general prices on all countries on Wednesday – with the exception of Russia – calling it the “Liberation Day” of America. Many countries have seen much higher rates than the basic line of 10%.
The chief economist of JPMorgan, Bruce Kasman, said on Friday that the investment bank now sees 60% of the world’s economy in a recession in 2025, compared to 40%. The last time the increase in chance was that large was in 1968 – and it was followed by a recession, the JPMorgan economists noted.
Despite these losses, Trump praised his own price plan on Monday morning.
“Oil prices are decreasing, interest rates are decreasing (the Fed idius should reduce rates!), Food prices are declining, there is no inflation and the United States long-abused report billions of dollars per week to countries abused on prices that are already in place,” he wrote on Truth Social.
“The United States has a chance to do something that should have been done decades ago,” he wrote in a later article. “Don’t be weak! Don’t be stupid! Do not be a panican (a new party based on weak and stupid people!). Be strong, courageous and patient, and grandeur will be the result!”