Fake News About Trump’s Tariff Pause Sends Dow Jones on a Rollercoaster Ride

An incredible incident shook the markets today (07.04.2025), causing a brief but significant upward movement in U.S. markets, fueled by ‘fake news’ involving a close associate of Donald Trump. A viral leak on social media claimed that Kevin Hassett, Director of the White House National Economic Council, supported the idea that Trump was considering a 90-day tariff pause for all countries except China, which caused a sudden spike in the Dow Jones within minutes. During an interview with Fox News, Hassett did not explicitly confirm any such pause, instead stating: ‘I think the president will decide whatever he decides. There are over 50 countries in negotiations with him [Trump].’ This statement was misinterpreted to suggest there would indeed be a ‘freeze’ on the previously announced tariffs. The White House quickly dismissed these reports as ‘fake news,’ with Press Secretary Caroline Levitt calling out the misinformation. The Dow Jones’ reaction was dramatic, showcasing its volatility during live CNBC coverage. Caroline Levitt added that the market’s instability makes it highly susceptible to erroneous statements from top government officials.