Media outlets fueled market turmoil by reporting ‘fake news,’ then point to the chaos
April 8, 2025 | Chris Donaldson
Monday was a tumultuous day as financial markets reacted to President Donald J. Trump’s bold implementation of tariffs and a pair of media outlets further fueled the chaos with their sloppy reporting.
On Monday morning, the Dow Jones Industrial Average (DJIA) briefly spiked and then came crashing down after both CNBC and Reuters reported that the Trump administration could be considering a 90-day pause on the “Liberation Day” tariffs announced by the president last week, news that while it turned out to be false, sparked optimism that predictions of a doomsday could be averted.
The reports were based on an inaccurate version of remarks by National Economic Council Kevin Hassett during a Fox News appearance that were interpreted to mean that a pause was on the table. The actual interview apparently wasn’t reviewed by editors at the two legacy outlets, who seemed to be more interested in chasing social media clickbait than engaging in serious reporting.
During its daily coverage, a CNBC co-anchor told colleagues, “I think we can go with this headline. Apparently, Hassett’s been saying that Trump will consider a 90-day pause in tariffs for all countries except for China.”
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https://www.bizpacreview.com/2025/04/08/media-outlets-fueled-market-turmoil-by-reporting-fake-news-then-point-to-the-chaos-1534776/
