False News provokes Huge Stock Market Moves.

Fake headlines mainly in social media provoked substantial price moves on the stock exchanges around the World.

One news, completely fake, was that the US would suspend the new tariffs for 90 days, provoking a huge jump. The Dow increased by 2%, the S&P by 3.4% … all for fake news.

The origin of the fake news, as so often, was CNBC. Reuters repeated it and social media sent it out million times.

CNBC headline was: HASSETT: TRUMP IS CONSIDERING A 90-DAY PAUSE IN TARIFFS FOR ALL COUNTRIES EXCEPT CHINA.”

This headline provoked a swing of USD 2.4 trillions which evaporated thereafter in minutes.

Reuters corrected the news blaming CNBC.

And who will pay for the losses?