“Fake news” was actual false news: stories that were blatantly made up, written and shared by people in the US who were economically or politically motivated.
I originally did not like the term "Fake news" because I felt that it was an attack on journalism and free speech but sadly it is now a mainstay in society. Social media platforms are filled with "fake news" and they all have an agenda whether it related to politics or religion. Who knows how severely the 2016 presidential election was impacted by "fake news" but the phenomenon is certainly an issue in 2023.