Democrats accuse Trump of manipulation of the stock exchange. They ask who used the decisions about the duties
Insider Trading is transactions with securities on the stock market made by people with access to classified information and using this information to achieve private profit.
Seconds after Donald Trump announced on Wednesday a 90-day suspension of elevated duties on goods from almost 60 countries in the world, the quotations on Wall Street soared up, while the S&P 500 index recorded the largest one-day increase since the global financial crisis in 2008. The company's shares increased by as much as 22 percent. It is worth recalling that there were more opportunities to earn on increased volatility, because after Trump announced after the session on April 2, raised duties, stock indexes in the USA and other markets, including In Europe and Asia, they burst after about 10-12 percent. In total for four sessions.
According to the Unusual Whales platform, tracking suspicious transactions on the stock exchange, 10 minutes before the announcement of Trump, a large number of buying options (call) was purchased, giving the possibility of profit with the increase in the main stock indexes. In addition, Donald Trump himself, a few hours before the announcement of the suspension of duties that raised indexes, calmed down, writing that “everything would be fine, the US would be bigger and better than ever!” “This is a great time for shopping (shares – ed.)” – wrote on Truth Social.
The first accusations of manipulation have already appeared minutes after the announcement. Congresmen Democrats Steven Horsford, who questioned before the Budget Commission in the House of Representatives of the US representative for Jamieson Greer Handlow just after the President's entry was published, he began to shout at officials:
– Is this market manipulation?! If it's not a market manipulation, what is it? Who used it? Which billionaire has just enriched? – asked the politician of the administration representative who seemed surprised by the president's decision.
Senator Adam Schiff from California told Tygodnik Time that he was going to investigate in the case. “I'll do everything in my power to get to the truth,” he said. He reminded that Trump had earned money earlier on suspicious market transactions, e.g. using his own cryptocurrency emissions just before the presidency was taken.
Senator Chris Murphy said in a similar tone, who on platform X said that “the Insider Trading scandal was being prepared”, pointing to Trump's earlier entry from the morning, when the president mentioned a good opportunity to buy shares, signing DJT initials, which is also a stock market short for his own company. Trump said after the announcement that the decision to suspend his duties was made by this morning.
– Trump's tweet from 9.30 clearly shows that he wanted his people to earn money on private information that only he knew. So who knew earlier and how much money they earned? Senator asked.
Meanwhile, Alexandria Ocasio-Cortez congressmen called all members of the Congress to reveal their transactions on the market from the last day. “I heard interesting rumors in the room” – she wrote on X. “The date of disclosure of transactions is on May 15. We will soon find out a few things. It is time to prohibit trade in confidential information in the congress” – she added.
