US Stock Market Shakes Due
to One Tweet on X
Jakarta, CNBC Indonesia –The US stock market was in chaos and experienced extraordinary turmoil on Monday (7/4/2025). This happened after a fake tweet stated that US President Donald Trump was considering postponing new tariffs for 90 days.
The false information had caused the stock market value to soar by US$2.4 trillion (around Rp40.4 trillion) in just 15 minutes before plummeting again, as quoted by the Daily Mail, Wednesday (9/4/2025).
This incident began with an interview with Kevin Hassett, the White House economic adviser (National Economic Council), on Fox News television station on Monday morning US time.
Hassett was asked about the possibility of President Donald Trump suspending trade tariffs for 90 days, Hassett answered with a rather ambiguous statement, he said: “I think the President will decide for himself”.
The confusion became even worse when a tweet that went viral on the X platform quoted Hassett’s statement incorrectly.
The first post spreading the rumor came from a verified financial account called “Hammer Capital” on Monday morning.
“HASSETT: TRUMP IS CONSIDERING A 90-DAY TARIFF DELAY FOR ALL COUNTRIES EXCEPT CHINA,” wrote the account @yourfavorito.
Investors immediately bought stocks, causing a sudden spike in the market. CNBC International even read the news live. However, the euphoria did not last long. The White House quickly clarified that the news was not true and called it “fake news.”
The market reaction immediately turned around. Stock prices fell again and the market was unstable for about an hour before finally closing relatively flat.
This turmoil caused fears of a repeat of “Black Monday” 1987. On social media X, the hashtag “Black Monday” became a trending topic.
Concerns increased not only in the US, but also spread to Asian and European markets. The Hong Kong stock exchange fell 13.2 percent, its worst decline in almost 30 years. Meanwhile, Tokyo fell 8 percent.
According to Rick Meckler of Cherry Lane Investments, the main problem for the market is the Trump administration’s trade policies, which have only exacerbated global economic uncertainty.
The turmoil reflects how sensitive the market is to rumors, especially amid economic and trade policy uncertainty. A single piece of false information can cause trillions of dollars to move in a matter of minutes.
SOURCE : CNBC INDONESIA
