Historic $6T Stock Whiplash Stuns Wall Street Amid Trump Tariff Threats

U.S. markets swung $6 trillion in 30 minutes as a false tariff pause rumor collided with Trump’s new 50% tariff threat. Crypto markets also tanked with $1.64B liquidated.

In an unprecedented display of market volatility, U.S. traders were left reeling on Monday as a combination of misinformation and aggressive trade rhetoric from President Donald Trump triggered the largest 30-minute market cap swing in history—totaling a jaw-dropping $6 trillion.

The chaos began shortly after markets opened, when a rumor began circulating on X (formerly Twitter) suggesting that White House National Economic Council Director Kevin Hassett had confirmed President Trump was preparing to pause all tariffs for 90 days.

This unverified claim lit a fire under equities, rocketing the S&P 500 up by $3 trillion from its intraday lows in mere minutes. But the euphoria was short-lived.

CNBC swiftly debunked the claim, citing White House insiders who dismissed the report as false. The official White House account chimed in soon after, categorizing the story as “fake news.”

Markets cratered again, erasing all gains in less than half an hour—marking what analysts from The Kobeissi Letter described as the largest half-hour swing in market capitalization ever recorded.

“This single tariff headline attributed to White House advisor Hassett swung $6 TRILLION in S&P 500 market cap,” wrote The Kobeissi Letter. “You can’t make this up.”

As markets digested the rumor whiplash, President Trump added fuel to the fire via Truth Social. In a sharply worded post, Trump confirmed that unless China rescinds its 34% retaliatory tariffs by April 8, the U.S. would move forward with an additional 50% tariff hike effective April 9. He also announced the cancellation of all pending discussions with Chinese officials and promised to begin immediate trade talks with other nations.

“Negotiations with other countries, which have also requested meetings, will begin taking place immediately,” he declared.

Meanwhile, the shockwaves extended well beyond equities. Crypto markets endured a parallel bloodbath, with over $1.64 billion in leveraged positions wiped out in the last 24 hours, according to Coinglass. Bitcoin (BTC), which had held relatively steady late last week, fell sharply in tandem with global equities. At the time of writing, BTC is trading at $78,350.

The dual meltdowns in traditional and digital markets underscore just how tightly investor sentiment remains tethered to geopolitical risk and headline-driven volatility. As the week unfolds, eyes remain locked on both Washington and Beijing for the next domino to fall in this fast-escalating global trade war.

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