It began as a real answer to a real question in a real interview. It ended as a false news that turned a Wall Street in a matter of minutes, raising the value of the companies quoted in more than two billion dollars that volatilized almost so fast. With investors trying to find clues to orient themselves before the collapse caused by the commercial war declared by Donald Trump to the entire world. One of those clues turned out to be a false rumor that spread at the speed of light and unleashed euphoria on Wall Street. Of course, just for 15 minutes.
Trump cabinet members are a bit clueless and not knowing what to say not to stay offside. White House spokeswoman, Karoline Heavitt, has already been several times in evidence, after the facts have taken the opposite. This Monday, while an advisor to the White House said sharp that “this is not a negotiation,” the Treasury Secretary announced that Trump had commissioned him to negotiate and a third advisor said that these narratives in conflict were good because they reflected different opinions.
In these circumstances, Kevin Hasset, director of the National Economic Council of the White House, granted friendly territory. Even so, they pointed out for the proposal signed, among others, by investor Bill Ackman, to decree a “dead time” in commercial policy and to open negotiations and avoid a “nuclear winter.” They asked if Trump would be willing to consider her.
“I think the president will decide what the president will decide. There are more than 50 countries in negotiation with the president,” said Hasset. “But I urge everyone, especially Bill [Ackman]to soften a little rhetoric. The idea that it will be a ‘nuclear winter’ or something is a completely irresponsible rhetoric, ”he added.
That the president will decide what he will decide (and that although he says one thing, he decides the opposite) is an obvious with which Hasset did not want to catch his fingers. However, his words were misunderstood or exaggerated. “Hassett: Trump is considering in tariffs for all countries, except China.”
It was published at 10.11 in the morning (16.11 in Peninsular Spain) after the Fox News interview. It is the first of which there is a trace on Twitter, although its author was shaken hours later: “To be the clearest as possible, the operations tables began to send this holder at 10:09. I was repeating what the market was reacting, to my 600 followers. It was an incorrect interpretation of a Fox News interview”,
The truth is that this headline and many almost identical fell into the hands of wishing investors of good news (or with fear of being trapped in their bearish positions) and the effect was brilliant. The headlines arrived at the big media, which sought responses to the market reaction and the CNBC and Reuters spread it.
In the CNBC, the presenters seemed baffled, wondering what was causing the change of course. The presenter of the CNBC David Faber and his colleagues in the chain wondered aloud about the unleashed “headline”, searching on the screens of their computers a news agency alert or any other indication of what could have caused the movements of the stock market, according to the reconstruction made by the CNN. At 10:15, the CNBC presenters read the news live. “I think we can continue with this headline, apparently Hasset has been saying that Trump will consider a 90 -day break in tariffs for all countries except China,” said presenter Carl Quintanilla.
In seven minutes, the S&P 500 had added about 2.5 billion dollars in value. The index passed during the session of falling 4.7% to rise 3.4%, to return to negative territory and continue giving banding all day. The oscillations were the most abrupt since a March 2020 session, in full pandemic.
“We are trying to find out exactly where that comes from,” Faber quickly added. CNBC showed the holder on screen less than a minute later. “Hassett: Trump is considering for all countries, except China,” said the headline, as if the news was confirmed. At 10.19, Reuters reported the alleged comments, citing the CNBC.
The White House denied that a 90 -day pause was studied in tariffs. “Wrong. False news,” he said bluntly in a message on the social network X published at 16.39, although by then the globe had been punctured when discovering that the news had no foundation. CNBC and Reuters recognized the error in their initial interpretations of Hasset’s words and published corrections.
When the operators “realized that this headline was not correct, everything was sold again,” Peter Tuchman, a senior operator in the New York Stock Exchange, told Bloomberg. “This is crazy,” he added.
