Berkshire Hathaway Inc. issued a statement dismissing reports found on social media platforms like X, TikTok, and Facebook regarding alleged comments from Warren Buffett as untrue. The company's response came after claims shared on Truth Social, linked to Donald Trump, suggested Buffett had praised the president's economic decisions. The rumors surfaced from an Instagram post and gained traction following Trump's announcement of higher tariffs, causing market turmoil. Federal Reserve Chair Jerome Powell's warning about the economic consequences of a trade war further intensified the selloff. Rumors often circulate on social media about Buffett's investment preferences and political affiliations, prompting him to clarify last year that he doesn't endorse any political candidate due to misinformation.