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Fake News About US Tariffs Misled Media, Investors, and Caused a Sharp Drop in Markets
A rumor spread on X (formerly Twitter) caused a $2.4 trillion fluctuation in the global financial market this Monday (8). In just ten minutes, investors reacted en masse to a false news story about US trade tariffs. The information, denied shortly afterward by the White House, reveals how digital misinformation continues to impact entire economies, according to the site Revista Forum.
What Happened: Fake News with a Blue Check
The episode began after a live interview with Kevin Hassett, economic advisor to the US, on Fox News. When asked about the possible suspension of trade tariffs, he gave vague answers. Shortly after, verified accounts began to publish a supposed announcement from the US government.
- The account “Hammer Capital” claimed that the US would suspend tariffs for all countries except China.
- The rumor was replicated by paid blue check profiles, confusing users and news outlets.
- The account “Walter Bloomberg” also spread the information, unrelated to Bloomberg News.
- Reuters and CNBC reported the supposed measure but deleted the posts minutes later.
Immediate Impact: Market Reacted in Seconds
According to Dow Jones Market Data, the global market lost $2.4 trillion in market value right after the rumor spread.
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Northern Brazilian ports surpass the South as the country’s largest grain corridor amid record harvest
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Amazon launches its own brand in Brazil a week before Prime Day, following a $3.7 billion investment and the establishment of over 300 distribution centers nationwide by 2025.
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Trump’s 50% Tariff on Brazilian Goods Cuts U.S. Exports by 30%, Brazil Sets Records in 42 Countries and Germany Becomes Top Coffee Buyer
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Brazil Harvests Record 358 Million Tons of Grain but Lacks Storage for 134 Million Tons
- Drops in American and European stock markets
- Sudden fluctuations in the dollar and commodities
- Institutional investors were affected
The White House officially denied the information still in the afternoon of Monday, but the damage was already done.
Rumors That Became Reality: Experiment Showed the Danger
In 2023, streamer Zealand did an experiment:
- Created a rumor about the transfer of player Ismaïla Sarr to Everton.
- Verified accounts spread the false information.
- Betting sites adjusted the odds by over 300% in just a few minutes.
“I was disturbed by how easy it was to manipulate the system,” said Zealand after seeing his test go viral globally.
