Democrats are probing Donald Trump’s administration over alleged insider trading.
Shifts in the market as a result of President Donald Trump’s changing tariff policy have sparked accusations of potential insider trading and market manipulation, Democrats saying they will probe the administration as a result.
There is no suggestion of wrongdoing on the part of Trump or members of his administration. Newsweek previously contacted the White House to comment on the Democrat’s investigation.
On Wednesday, Trump announced a 90-day pause for most of the tariff regimes he had put in place on April 2 in a shock move which caused the stock market to jump. On Wednesday, the S&P 500 closed up 9.5 percent having previously fallen more than 10 percent when Trump announced his tariffs.
Following this move, some Democrats speculated that Trump manipulated the markets on purpose. Senator Adam Schiff posted a statement responding to a Trump social media post suggesting it was a «GREAT TIME TO BUY» claiming Trump had foresight.
Schiff and Arizona Democrat Ruben Gallego sent a letter to Trump’s chief of staff, Susie Wiles, and Trade Representative Jamieson Greer asking for an investigation into potential conflicts of interest.
Meanwhile, Texas Democratic Representative Gregoria Casar called for an investigation into whether Representatives including Congresswoman Marjorie Taylor Greene were «tipped off» by Trump’s actions.
Insider trading is buying or selling company’s securities based on private information that could impact an investor’s decision to buy or sell a security.
