"20% Stock Market Crash Was Intentional" - The Truth Behind Trump's Posted Video

Berkshire Hathaway Issues "Fake News" Statement
"Buffett Will Not Comment on Economic Matters Until Early Next Month"

Donald Trump, the President of the United States, shared a video on social media claiming that Warren Buffett, CEO of Berkshire Hathaway (Berkshire), supports his economic strategy, only to be embarrassed when Berkshire immediately refuted it as 'fake news.'

On the 4th (local time), US CNBC reported that President Trump posted a 1 minute and 6 seconds video link on Truth Social in the morning, defending his policy decisions. The video was a repost of a post by an X (formerly Twitter) user suggesting the possibility of a 'government's deliberate stock market crash strategy.'

Warren Buffett, CEO of Berkshire Hathaway. Photo by Asia Economy DB

The video narration stated, "Although the stock market has plunged 20% this month, this was intentionally caused by Trump," and "Buffett also said it was 'the best economic measure I have witnessed in over 50 years.'" However, CNBC explained that the video was originally posted on TikTok a few weeks ago, then reposted by an X user, and it appeared that President Trump shared it.

Berkshire issued an unusual statement immediately after the video was shared, pointing out that it was 'fake news.' In a statement posted on its website, the company said, "Currently, statements claiming to be Buffett's remarks are circulating on social media such as Twitter, Facebook, and TikTok," and "all of these are false." Separately, Buffett told CNBC, "In an era where false rumors can spread instantly, I want to eliminate misinformation," adding, "I will not make any comments related to the market, tariffs, or the economy until the annual shareholders meeting scheduled for the 3rd of next month."

On the 1st, Buffett was interviewed by CBS News' 'Sunday Morning,' where he expressed a critical view of the Trump administration's reciprocal tariffs, saying, "Tariffs are somewhat acts of war." He had also warned during Trump's first term in 2018-2019 that the global trade tensions caused by tariffs could "have negative consequences (on the market)." Buffett has generally maintained a cautious stance on political or controversial topics. Although known to support the Democratic Party, he has not publicly endorsed any candidate except for Hillary Clinton.