Beyond the Headlines: Unveiling the Zoll-Inspired Fake News that Rocked the S&P-500 Index
Broadcaster details tactics for generating misleading news reports
Facebook Twitter Whatsapp E-Mail Print Copy Link When the afternoon struck, a 'fake news' tidbit turned heads: Trump was planning a 90-day break on his tariffs. The media landscape echoed the news. But wait - the White House spoke up, labeling it all 'garbage'.
CNBC confessed to spreading unfounded info when it reported on a potential 90-day suspension of tariffs by the Trump administration. The buzz that surfaced on CNBC's ticker was also echoed by several other media outlets, including globally renowned Reuters, spurring a worldwide frenzy.
A whirlwind swept through the S&P-500 index, causing it to soar approximately 7% before a cold reality check brought it back to earth within minutes. A CNBC spokesperson shared, "In a real-time tracking frenzy, we inadvertently disseminated unverified information on our ticker." Reporters quickly hopped on corrections.
Reuters too began to sing a different tune, acknowledging, "We published on April 7, citing a CNBC headline, a report suggesting President Donald Trump's economic advisor, Kevin Hassett, considered a 90-day tariff suspension on all countries except China. The White House dismissed this report. Reuters retracted the false report, regretting the error."
Shortly after the initial headlines, Karoline Leavitt, White House press secretary, set the record straight, barking, "Those reports of a break were just plain lies!"
Source: ntv.de, mpa/DJ
- Television
- USA
- Donald Trump
- Wall Street
- Market Fluctuations
Straightening Things Out: A Deep Dive into the Mess
- Stock Market Churn
- Fact or Fiction-induced Chaos: On April 7, 2025, an unfounded report on CNBC about the Trump administration pausing tariffs sparked turbulent waves in U.S. equity markets. Initially, the SPDR S&P 500 ETF Trust (SPY) breached the $520 ceiling but later plummeted below $495, as the hoax was swiftly exposed[2].
- Fluctuating Fortunes: The S&P 500 briefly reveled in a bull run before plunging, reflecting the market's heightened sensitivity to policy whispers. This roller coaster ride spotlighted the market's responsiveness to news related to policy matters[2].
- Media Mishap
- Rapid Thrill and Slide: Unverified news about a tariff pause swiftly rippled across major media outlets, including CNBC and Reuters, in the absence of official confirmation. This widespread dissemination played a significant role in the market's abrupt oscillations[2].
- White House Whispers: The White House promptly slammed the news as "fake news," aiming to clear the air of false narratives and calm market uncertainties[2].
- Market Minutiae: The incident underscored the current market volatility and its responsiveness to policy-related rumors[4].
The Commission has also been involved in the preparation of the draft budget, delving into the fallout from the unfounded report that stirred market turbulence on April 7, 2025. The Commission criticized major media outlets such as Reuters and CNBC for spreading unverified news about a potential tariff pause, which subsequently provoked the erratic swings in the S&P-500 index. Real-time market fluctuations highlighted the market's sensitivity to policy-related rumors, emphasizing the necessity for stringent news verification processes to prevent such incidents in the future.
