India, April 7 -- The White House on Monday rejected as "false" reports that Donald Trump was mulling a 90-day halt to tariffs on all nations except China.

Reuters, citing a CNBC story, reported that White House Economic Council Director Kevin Hassett had stated that Trump was thinking of pausing the imposition of his tariffs on all nations, except China, for three months.

The US markets, which witnessed a steep decline in early trade, made a recovery because of the report. However, gains swiftly reversed after the White House disputed the rumors and referred to them as "false" and "fake news," reported CNBC.

Meanwhile, Trump shared on social media a video of Fox Business host Maria Bartiromo declaring, "Rates are plummeting, oil price...