How fake news about tariffs posted on Elon Musks X shifted trillions in the markets

Market analysts braced for a potential repeat of “Black Monday” over the weekend — a crash of such magnitude it was being compared to the infamous 1987 global financial meltdown. While President Trump’s tariffs continued to weigh on the stock market, a full-blown crash never materialized. Interestingly, one key factor in averting disaster may have been misinformation from an obscure account on Elon Musk’s X. Walter BloombergWhen the stock market opened on Monday, it was heading straight for a decline — but then, a sudden 10 percent surge defied expectations. Analysts were left wondering: What caused this turnaround?The answer seemed to lie in reports that the White House was considering a 90-day pause on President Trump’s tariffs. The initial claim was attributed to Trump’s economic advisor, National Economic Council Director Kevin Hassett, but no one could verify where he had said it. Instead, the report appeared to have gained traction through a post on X by an account named Walter Bloomberg, which has over 850,000 followers.”Trump is considering a 90-day pause in tariffs for all countries except China,” Walter Bloomberg posted in all-caps alongside an alarm emoji.It turns out that this wasn’t true. The White House quickly dispelled these reports, calling them “fake news.” This Tweet is currently unavailable. It might be loading or has been removed. Despite the correction, the damage was done: the market had reacted to the false report, sparking the unexpected rally.Walter Bloomberg, who is unaffiliated with the financial media company Bloomberg, is known for posting…How fake news about tariffs posted on Elon Musks X shifted trillions in the markets