On what began as just another hectic Monday morning on Wall Street, a single tweet ignited a wave of confusion and chaos across the financial markets. The tweet, posted by the well-followed news aggregator account “Walter Bloomberg” on X (formerly Twitter), falsely claimed that President Trump was considering a 90-day pause on his controversial global tariff proposal — a policy stance that could have significantly shifted global trade dynamics.
The post, which read: “HASSETT: TRUMP IS CONSIDERING A 90-DAY PAUSE IN TARIFFS FOR ALL COUNTRIES EXCEPT CHINA,” triggered an immediate and noticeable ripple effect. Major market indices such as the Dow Jones Industrial Average surged momentarily in response to the news, only to reverse course minutes later once the report was debunked. This sudden volatility underscored how much influence even a single piece of misinformation can have on investor behavior and market stability.
The Power of the Bloomberg Terminal — and Its Echoes
Although the Walter Bloomberg account is not affiliated with Bloomberg News or any official media outlet, it has garnered a reputation over the years as a reliable source for real-time financial updates. The account functions by relaying headlines directly from the Bloomberg Terminal — a premium service used by financial professionals to access market-moving data ahead of mainstream news outlets.
The Bloomberg Terminal often receives breaking news, analysis, and headlines before they are published publicly. Because of this, social media accounts that echo its updates, like Walter Bloomberg, have become essential for traders, journalists, and analysts who want rapid-fire insight without the hefty Terminal subscription.
A Chain of Missteps
This particular incident, however, was a stark reminder of the risks that come with speed over accuracy. According to follow-up responses and clarifications, the misleading headline originated from a reporting error — first aired by CNBC in a banner during live coverage, then picked up by Reuters, and finally amplified by Walter Bloomberg’s tweet.
The chaos truly set in when the White House quickly intervened, denying that Kevin Hassett, then Director of the National Economic Council, had made any such statement. In an attempt to set the record straight, a White House-affiliated X account quote-tweeted the Walter Bloomberg post and attached a clip from Fox News — where the miscommunication appeared to stem from.
In the clip, an anchor asked Hassett whether the administration would consider a 90-day pause on tariffs, a proposal earlier suggested by billionaire investor Bill Ackman. Hassett’s reply was vague: “You know, I think the president is going to decide what the president is going to decide… But I would urge everyone, especially Bill, to ease off the rhetoric a little bit.”
This statement, far from confirming any official policy change, was interpreted and misreported in real-time, eventually spiraling into a fabricated headline that briefly rattled the markets.
Accountability Passed Down the Line
When asked about the source of the tweet, the Walter Bloomberg account pointed to Reuters, which had reportedly drawn from a CNBC segment. Reuters later retracted the story, stating that their headline was based on incorrect information and expressed regret for the error. CNBC also acknowledged that, in the heat of reporting on fast-moving market shifts, they aired an unconfirmed update before correcting it on air.
In an unusual departure from its usual no-nonsense tone, the Walter Bloomberg account posted a simple reaction: “wtf”, accompanied by a screenshot of the Bloomberg Terminal showing the retraction. This brief but telling response captured the sentiment of many observers — confusion, frustration, and concern over the rapid spread of misinformation in the digital age.
A Cautionary Tale for Traders and News Consumers Alike
This incident is a powerful example of how misinformation — even when unintentional — can dramatically affect financial markets. The chain reaction set off by a misunderstood comment, misreported headline, and viral social media post underscores the delicate balance between speed and accuracy in modern journalism and market reporting.
It also raises important questions about the role of aggregator accounts like Walter Bloomberg. While immensely valuable for fast news, they also operate without the editorial oversight of traditional media outlets. In times of crisis or volatility, the distinction between verified reporting and social media noise becomes critically important.
Though seasoned traders may have seen the original update directly on the Bloomberg Terminal and reacted accordingly, many others outside the inner circle of finance rely on accounts like Walter Bloomberg to stay informed. And when these sources get it wrong, the consequences can reverberate far and wide.
As the dust settles, one lesson remains clear: in an era where a single tweet can move billions, the truth matters more than ever — and so does the responsibility that comes with sharing it.
