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Buy Now, Thank Me Later? Trump's Tariff Pause Sparks Insider Trading Alarm
Description
President Donald Trump's posts on Truth Social triggered market volatility and raised legal concerns hours before he announced a 90-day pause on tariffs. Trump wrote, "BE COOL! Everything is going to work out well," followed by, "This is a great time to buy!!!" prompting immediate market reactions.
Following Trump's posts—but before the China tariff reversal became public—the Dow Jones Industrial Average climbed 8%, the S&P 500 increased 9%, and the Nasdaq Composite surged 12%. Democrats are now raising questions about who profited from these market fluctuations and the legality of Trump's actions.
Before addressing reporters, Trump was overheard on a microphone discussing financial gains: "Charles Schwab, he made 2.5 billion today, and he made 900 million."
Sen. Chris Murphy described the situation as a potential insider trading scandal.
"I have questions about the tariff announcements, who benefited and who made money, because this could be an enormous scam," Murphy said.
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