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2w ago

Senators Demand Investigation Into Alleged Market Manipulation by Trump Administration

Democratic lawmakers raise concerns over potential insider trading tied to abrupt tariff reversals and Trump's social media posts.

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After President Donald Trump announced a 90-day pause on most tariffs, stocks skyrocketed. The stock market gained back about $4 trillion dollars — or about 70% of the value it had lost as investors were digesting news of Trump's so-called "Liberation Day" tariffs. Calls for an insider trading investigation began shortly after. (AP Photo/Michael Probst)
US President Donald Trump's annoucement of a pause in tariffs triggered a historic stock market rebound
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Overview

  • Democratic senators are calling for an urgent inquiry into whether President Trump or his inner circle engaged in market manipulation following sudden tariff policy changes.
  • Trump's April 9 announcement of a 90-day tariff delay and social media posts advising investors to buy stocks were followed by sharp market rallies, including a 7% surge in the S&P 500.
  • Lawmakers, including Senator Adam Schiff, have raised concerns about senior adviser Elon Musk potentially benefiting from non-public information, citing Tesla's 18% stock increase after the tariff reversal.
  • Former White House ethics lawyer Richard Painter suggested Trump's actions could expose him to charges of insider trading or market manipulation.
  • The controversy highlights broader ethical concerns over transparency and conflicts of interest in economic policymaking within the Trump administration.