Matt Gagnon discussed the recent stock market volatility triggered by misinformation about a potential 90-day pause on tariffs, which added $2.4 trillion in market value in 10 minutes, only to erase it within 23 minutes after the White House denied the report. The S&P 500 index saw its widest intraday range since March 2020, ending the day down 2.2%. Gagnon emphasized the psychological impact of market reactions, suggesting that fear and irrational decisions are driving market volatility. He argued that while tariffs may affect future profitability, the U.S. economy remains strong, and the market will eventually stabilize, though a recession remains a possibility.