After reports emerged that U.S. President Donald Trump would suspend mutual tariffs for 90 days, the White House stated that it was "fake news," causing fluctuations in the U.S. stock market.
On this day, the Dow Jones Industrial Average fell by 790.21 points (-2.06%) to 30,524.65 as of 10:37 a.m. Eastern Time compared to the previous trading day.
The Standard & Poor's (S&P) 500 index traded at 4,995.26, down 78.82 points (-1.55%) from the previous trading day, while the tech-heavy Nasdaq index fell by 191.08 points (-1.23%) to 15,396.71.
The New York stock market opened sharply lower after President Trump clarified his stance on tariff policy through social networking services.
After reports emerged that President Trump was considering temporarily halting mutual tariffs for 90 days on all countries except China around 10 a.m., the three major indices rebounded sharply, turning to positive territory.
At one point, the S&P 500 index showed an increase of 3.4% compared to the previous trading day, while the Nasdaq index had a gain of 4.5%.
However, after the White House officially announced that reports regarding Trump's consideration of temporarily suspending mutual tariffs were fake news, the three major indices of the New York stock market reversed again, declining.