One of the craziest turns in the stock market in modern history occurred Monday morning, and it was all based on fake news.
Before the opening, futures showed another bad day for stocks on the horizon, with all three major markets bracing for another large drop. That initially happened, but then a claim about what Kevin Hassett, one of President Donald Trump’s top economic advisors, said went viral.
Everyone from CNBC to Reuters blared headlines proclaiming a “90-day pause” on tariffs was being considered in light of countries offering to enter into negotiations. That sent stocks flying, with the Nasdaq and S&P 500 (where most 401s are heavily invested) at or above three percent gains.
BREAKING—DOW Jones, S&P 500, and NASDAQ are rallying, reversing earlier losses pic.twitter.com/0ly8qIaK0r
— Election Wizard (@ElectionWiz) April 7, 2025
There was just…
