A rumor is always enough to send a stock market’s price index soaring and its denial to bring it down again, let alone on a day when markets are on overdrive following the White House’s tariff announcements.
With the leak from Kevin Hassett, an adviser to the president, that Donald Trump is considering a 90-day “freeze” on tariffs for everyone but China, the New York Stock Exchange reacted immediately.
The Dow was up 8% in a matter of minutes.
The rebuttal that came within minutes brought it down again within minutes to 3.5%.
The rise and fall was recorded live on CNBC’s live broadcast.
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