How fake news moved in minutes $ 2.5 trillion. Wall Street
An unprecedented change in the stock market, based on incorrect information, added over $ 2.4 trillion value and deleted it almost as quickly on Monday morning. The episode played out for just over half an hour, everything based on misleading reports that the US President is considering a 90-day pause for duties.
In fact, Donald Trump really did it, but a little later. Therefore, it is unclear whether this fake was not a semi-feak in a needy situation for a presumed manipulation of the exchanges.
The sharp jump, which has become a collapse almost immediately, just showed how upset a lot of investors are for any information that can soothe the market, and how easily the misinformation and strategies for high -frequency trading of the sting that respond to titles in seconds can affect the prices of assets, says Wallstrite Junne.
Investors shocked by customs duties died to see some calming news. Such began to go on social media around 10:10 in the morning in New York: « Khasset: Trump is considering a 90-day pause in duties for all countries with the exception of China, » read the title, as a reference to the alleged words of Kevin Khasece, director of the National Economic Council to the White House.
The Ludeski Stock Indices rushed up. After the trading started with a decrease of 4.7% at the beginning of the session, the S&P 500 index increased by 3.4%. This is an addition, according to Dow Jones Market Data, at 2.4 trillion. Dollars market value for 10 minutes – from 10:08 to 10:18.
Just over 20 minutes later – at 10:41 in the morning everything was destroyed. The S&P 500 deleted a $ 2.5 trillion value after the White House quickly denied that such a pause was discussed.
| The widest trading range of this index within March 2020 has entered history. In the end, the S&P 500 closed with a decrease of only 0.2% compared to the previous day. |
The origin of the message remains unclear. The title is spinning on social media by 10:13 in the morning, published by a popular X account known as Walter Bloomberg.
This anonymous account for years, which has nothing to do with the Bloomberg News of the same name, has published news related to commerce throughout the market day, often in the form of upper -case titles copied by the Bloomberg terminal. This and others like it are popular with market observers who do not have access to expensive Bloomberg news and data terminals.
However, the title in question does not come from the agency’s news. However, it was also made by American TV ..
- The man behind the Walter Bloomberg account said he first saw the title of X around 10:09 in the morning « I couldn’t find anything on the main news channels at the time. After a quick search in X, I followed the title to the T3 Trading Group, LLC » (+4.5%), I considered the title reliable and published it at 10:13. «
- X account called T3 Live publishes the same title at 10:12. The earliest mention of the title in X seems to be a post from 10:11 in the morning of an account called Hammer Capital – an anonymous account with only 692 followers and a biography that reads « Members and Vibrations », the newspaper said.
- The message quickly gained speed among the leading CNBC media read it live on air around 10:15 in the morning before warning viewers that « we will try to clarify where this is coming from. »
- When the pause rumor began to rotate in the X and the markets reacted, CNBC employees continued to follow the news, and after one of them mistakenly decided that the pause was confirmed, it puts it at 10:18 as an inscription on the so -called. Roll Banner, which passes at the bottom of the screen. « While pursuing the news about real-time market movements, we broadcast unconfirmed information in a banner. Our reporters quickly made a correction on the air, » a CNBC spokesman said later.
- At 10:20, Reuters sent the same news on its channels, citing CNBC. A spokesman for the agency explained what happened, why they withdrew a misleading message and regret the mistake.
The initial title may have been an inaccurate summary of an interview given by a khaset to Fox News earlier on Monday morning. For the Fox & Friends show, before the market, Khasset was asked if the White House would consider a 90-day pause at the tariffs. « Yes, I think the president will decide what he will decide. There are more than 50 countries in negotiations. »
The real news worked as another cold shower. Donald Trump, as if to prove the seriousness of his intentions, threatened China with the addition of another 50 points to the duties, with which the total rate reaches 104%, if Beijing did not refuse to impose response duties of 34%. The ultimatum expires on April 8, and the new duties can come into force on April 9, was the clarification.
