The brief rumor of a 90 -day break in Trump’s tariffs made markets rise significantly. However, the White House denied these rumors, feeding new falls.

This highlights a true despair in the markets, while traders try to recover some high impulse and avoid recession.

False Trump Tariff

The threat of Trump’s tariffs is closer than ever, and is causing a “Black Monday” event in the crypto markets. Bitcoin fell below $ 80,000, and more than $ 1 billion has been settled with crypto. However, one of the president’s advisers, Kevin Hassett, suggested this morning that he may be reconsidering:

“Trump would you consider a 90 -day break in the tariffs?” ‘I think the president will decide what the president will decide… Even if you think there will be some negative effect on the commerce side, this is still a small part of GDP,’ Hassett said in a interview.

This news quickly began to recircularclaiming that Trump was seriously considering a 90 -day break in the tariffs. This created a great rally in traditional markets, with S&P 500 rising 6% in seconds. However, this rally turned quickly, falling again.

In Hassett’s interview, he made no firm commitment that Trump is considering pausing the tariffs. Mostly, his response focused on ongoing negotiations and statements that tariffs would have a limited impact. Shortly thereafter, the White House officially denied Any knowledge of a 90 -day break. They are still scheduled to start in two days.