The markets just gave Trump an off-ramp. Your move, Mr. President

It wasn’t the worst day on Wall Street ever, but it may well have been the weirdest.

A fluke of social media rumor-mongering just served up the closest thing to a crystal ball as you can get on Wall Street. And for President Donald Trump, it’s a glimpse at a future where he can be the market hero. If he’s paying attention. Stocks tumbled Monday as investors around the world tried to digest just how devastating Trump’s self-inflicted tariff pain will be to the global economy. On Wall Street, major indexes opened more than 3% lower, in so-called bear-market territory — more than 20% off their most recent high just seven weeks ago. It looked like yet another day of hemorrhaging market value in response to last week’s tariff announcement. But less than an hour after the market opened, stocks abruptly reversed course, surging 8% in a matter of minutes. (Which, just to be clear, does not happen on a normal day.) The jolt into positive territory was short-lived — a spark of hope kindled by a bogus rumor that Trump was weighing a three-month delay on tariffs. (The unsourced headline appears to have come from a tiny account on X, though as of Monday evening it was still unclear how it ultimately ended up on a CNBC chyron.) Once traders realized there was no truth to it, they sold off once again and returned stock tickers to a sea of red. Weird. But potentially instructive, if Trump is paying attention.