BREAKING: White House Says 90-Day Tariffs Extension is "Fake News."

A sudden burst of confusion gripped Wall Street today after a headline—falsely attributed to White House economic adviser Kevin Hassett—triggered a sharp rally in the stock market, only for it to reverse moments later as the story unraveled.

The initial report claimed that Trump is considering a potential 90-day pause on tariffs, sending major indexes soaring. Traders and algorithms reacted in real time, driving prices upward across equities and commodities on expectations of easing trade tensions.

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But the optimism collapsed just as quickly. Reporters, analysts, and investors began questioning the legitimacy of the headline, especially when no official source or recording could confirm that Hassett made such a statement. Apparently, the headline was based on a video of Hassett talking about the tariffs on television this morning, but his answer was unclear at best.

In response to the swirling confusion, the White House issued a firm denial, calling the entire story “fake news” and asserting that no pause on tariffs is planned. The statement did little to calm the markets, which quickly plunged back into negative territory.

The whiplash underscores the fragility and volatility of investor sentiment amid high-stakes policy discussions, and how a single, unverified headline can send shockwaves through both Wall Street and Washington.

But, the question remains. Did anyone intentionally manipulate the markets this morning to make a quick profit when the market shot up again?

As of now, it remains unclear where the Hassett attribution originated. The episode has prompted renewed calls for greater scrutiny on financial reporting and the need for clarity from officials during sensitive economic moments.