Trump's Tariff Pause Sparks 22% Surge in His Media Stock, Senators Demand Insider Trading Probe

Several Democratic senators have called for Congress to investigate whether President Trump or his associates engaged in insider trading or market manipulation following his recent tariff decisions. The calls for investigation come after Trump's announcement of a 90-day pause on additional trade tariffs for all countries except China, which led to a significant rise in stock market indices. Senator Adam Schiff, along with Senator Ruben Gallego, sent a letter demanding an urgent inquiry into whether Trump, his family, or other administration officials had engaged in insider trading or market manipulation.

The senators' concerns stem from Trump's social media post on his platform Truth Social, where he wrote, “THIS IS A GREAT TIME TO BUY!!! DJT,” shortly after US markets opened. This post, which included Trump's initials, was seen as a potential signal to the market, raising suspicions of insider trading or market manipulation. The senators argue that Trump's actions could have given him or his associates an unfair advantage in the market, and they are calling for a thorough investigation to determine if any laws were broken.

Republican Senator John Cornyn defended Trump, dismissing the allegations of market manipulation or insider trading. However, the calls for investigation from Democratic senators highlight the growing concern over potential misuse of power and information by the administration. The senators' demands for an inquiry reflect a broader debate over the ethical and legal boundaries of political figures' involvement in financial markets. The investigation, if launched, would seek to uncover any evidence of wrongdoing and ensure that the integrity of the market is maintained.

Trump's tweet, "Now is a great time to buy stocks!" and the abbreviation "DJT" were interpreted by the public as possible insider trading. "DJT" is the stock symbol of his media company. It is worth noting that Trump does not often use abbreviations in his signature. The stock price of Trump Media & Technology Group surged nearly 22% after the tariff suspension announcement on the 9th and another 5% in early trading on the 10th. Previously, Trump's net worth had plummeted by $1 billion due to the tariff plan, with the biggest loss coming from his most valuable asset, the "Trump Media & Technology Group."