Stock market investments took a wild swing as the White House disavowed rumors that President Donald Trump was considering a 90-day pause on his trade war.
The Dow fell over 1,000 points just minutes after Monday's opening but swung into positive territory for a few seconds when some outlets reported rumors that White House economic adviser Kevin Hassett said Trump was considering a tariff pause.
However, the market quickly fell back into negative territory as White House Press Secretary Karoline Leavitt called the so-called pause "fake news."
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"I spoke to Karoline Leavitt, the White House press secretary, on the phone just a short time ago, and she tells me it is, quote-unquote, fake news that the White House is considering a 90-day pause," CNBC's Eamon Javers reported. "So the White House pouring cold water on this idea, wherever it came from, that they're considering a 90-day pause on tariffs, saying that the president is committed to his tariff regime, and any reports that he's considering a 90-day pause are, quote, fake news."
