E-Paper
Did Trump close the stock market amid Iran conflict? Here's the truth
Rumors of a national emergency and stock market closure under President Trump circulate online. However there is on official confirmation about such closure
A widely shared online claim asserts that President Donald Trump declared a national emergency and ordered the shutdown of the US stock market.
What does the post claim?
The claim stems from a draft executive order disseminated by pro-Trump lawyers who, according to several sources, assert without proof that China meddled in the 2020 election to support the declaration of a national emergency that would grant the president more voting power.
The post claims that President Trump stated there is a threat to the American financial system. The post further alleges that Trump ordered an “immediate closure of all trading.”
It alleges that the White House has also announced the closure of the US Stock markets until “the system is fully stabilized.”
The viral posts speculate that the New York Stock Exchange (NYSE), NASDAQ, and all major US exchanges will face a shutdown amid Iran-US tensions and the alleged call for a national emergency inthe US.
However, there is no credible confirmation from the White House, the Securities and Exchange Commission (SEC), or any official financial authority that issued such an order.
Read more: Donald Trump to deliver any remarks on strikes in Iran today?
No national emergency for stock market shutdown
The International Emergency Economic Powers Act (IEEPA), a statute that permits the President to control specific financial transactions in the event of a declared national emergency, is cited in the claim. IEEPA has not, however, been officially announced to close U.S. stock exchanges.
A complete shutdown of all U.S. exchanges would be an exceptional step and would be promptly and publicly made known by reliable financial and government sources.
However, markets may still experience volatility owing to economic uncertainties, geopolitical concerns, or policy decisions amid tensions regarding the Iran-US conflict.
Read more: Killer robots and mass surveillance: Why Trump admin and Anthropic are at odds
What you should know?
Investors and the public should exercise caution when encountering dramatic social media claims about national economic policy.
Always cross-check with trusted financial news outlets, official government announcements, and market regulators before accepting dramatic headlines.
