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Bogus report on tariff pause briefly lifted markets before White House denied it

A bogus rumor that President Donald Trump was considering a pause in tariffs briefly lifted markets Monday before the White House shot down the unfounded reports. The confusion — which was amplified on social media and by some traditional media outlets — lasted less than a half hour but reflected a jittery mood on Wall Street as stocks plunged over worries that Trump’s tariffs could torpedo the global economy. The origin of the false report was unclear but it appeared to be a misinterpretation of comments made by Kevin Hassett, director of the White House National Economic Council, during a Fox News interview earlier Monday morning.

Wall Street could be headed for a bear market. Here’s what that means

Wall Street could soon be in the claws of another bear market as the Trump administration's tariff blitz fuels fears that the added taxes on imported goods from around the world will sink the global economy. The last bear market happened in 2022, but this decline feels more like the sudden, turbulent bear market of 2020, when the benchmark S&P 500 index tumbled 34% in a one-month period, the shortest bear market ever. Here are some common questions about bear markets: Why is it called a bear market?