FOX Business host Charles Payne discusses how investors are reacting to President Donald Trump’s tariffs on ‘Kudlow.’
CNBC was forced to issue an on-air correction after it amplified a viral falsehood that President Donald Trump was considering a « pause » on his widespread tariffs.
Volatility continued to rock the stock market Monday following Trump announcing his tariff plans last Wednesday on what he called « Liberation Day. » Adding further volatility were internet rumors about Trump pumping the brakes on implementing his tariffs, which began fueling a stock market surge on Wall Street.
« I think we can go with this headline: Apparently Hassett has been saying that Trump will consider a 90-day pause in tariffs for all countries except for China, » CNBC anchor Carl Quintanilla said on-air.
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CNBC’s Carl Quintanilla fueled the viral falsehood about the Trump administration implementing a « 90-day pause » on tariffs. (Screenshot/CNBC)
Seconds later, CNBC aired a « breaking news » banner that read, « HASSETT: TRUMP IS CONSIDERING A 90-DAY PAUSE IN TARIFFS FOR ALL COUNTRIES EXCEPT CHINA. »
The false headline apparently stemmed from a misinterpreted exchange Trump economic adviser Kevin Hassett had on « Fox & Friends » after he was asked whether Trump would consider a 90-day pause on tariffs.
« I think the president is gonna decide what the president is gonna decide, » Hassett responded.
Reuters similarly amplified the falsehood by running its own headline about the « pause, » citing Hassett.
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National Economic Council Director Kevin Hassett was asked about whether President Trump would consider a 90-day pause on tariff, to which he responded « I think the president is gonna decide what the president is gonna decide. » (Fox News Channel / Fox News)
The falsehood sparked a $2.4 trillion swing in the stock market, which evaporated in a matter of minutes.
CNBC White House correspondent Eamon Javers appeared on-air moments later telling Quintanilla that the pause was « fake news, » citing White House press secretary Karoline Leavitt. The network then ran an on-air « breaking news » banner quoting the White House’s denial.
A spokesperson for CNBC told Fox News Digital, « As we were chasing the news of the market moves in real-time, we aired unconfirmed information in a banner. Our reporters quickly made a correction on air. »
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CNBC White House correspondent Eamon Javers appeared on-air to confirm that talks of a 90-day pause was « fake news. »
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Reuters also retracted its reporting while pointing the finger at CNBC, stating, « Reuters, drawing from a headline on CNBC, published a story on April 7 saying White House economic adviser Kevin Hassett had said that President Donald Trump was considering a 90-day tariff pause on all countries except China. The White House denied the report. Reuters has withdrawn the incorrect report and regrets its error. »
