US news network ABC has suspended its chief investigative reporter after he made a "serious error" about Donald Trump`s former top aide, Michael Flynn.
Brian Ross reported Mr Trump was a candidate when he directed Michael Flynn to make contact with Moscow.
After his report, stock markets fell. But he later clarified that the orders came when Mr Trump was president-elect.
An inquiry is under way into the actions of Mr Trump`s inner circle before he took office.
US intelligence agencies believe Russia tried to sway the election in favour of Trump and a special counsel is looking into whether anyone from his campaign helped.
On Friday, Mr Trump`s sacked national security adviser Michael Flynn pleaded guilty to lying to the FBI about his contacts with Russian officials prior to the president`s inauguration in January.
As part of a plea bargain, Mr Flynn agreed to co-operate with special prosecutor Robert Mueller`s investigation into possible collusion between the Trump campaign and Russia ahead of the 2016 election.
US intelligence agencies have already concluded that Russian President Vladimir Putin directed a state effort to influence the US election in favour of Mr Trump.
Brian Ross`s special report was aired after Mr Flynn`s plea deal was announced on Friday.
Quoting a single anonymous source, it said he was prepared to testify that Mr Trump had directed him to make contact with Russian officials when he was still a candidate for the presidency.
If found true, the claim would have conflicted with the president`s previous comments on the issue.
Off the back of the report, Wall Street`s main indexes fell by more than one percent.
In a later edition of ABC`s World News Tonight, Mr Ross clarified that his source had in fact said that Donald Trump`s orders came during the presidential transition, after the election had taken place.
"It was shortly after the election that President-elect Trump directed Flynn to contact Russian officials on topics that included working jointly against ISIS (so-called Islamic State)," he said.
But the news network was criticised for simply clarifying the error and was later forced to issue a full correction.
President Trump was quick to praise the move, and suggested the report was part of a "fake news" agenda set against him.
Mr Ross, 69, also took to Twitter to comment on the mistake, saying: "My job is to hold people accountable and that`s why I agree with being held accountable myself."
The journalist has been criticised in the past for previous errors, including suggesting that the gunman in a mass shooting at a cinema in Colorado had a connection to the conservative Tea Party group.
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