While most politicians try to avoid even the appearance of market manipulation, former President Trump seemingly threw caution to the wind with a brazen “Buy Now!” post on Truth Social – hours before a major tariff announcement sent stocks soaring.
The timing couldn’t have been more suspicious. Trump’s post, complete with his “DJT” signature referencing Trump Media & Technology Group, preceded a 90-day tariff suspension that triggered massive market gains. His company’s stock jumped 22%, while the broader market experienced a tsunami of green numbers: S&P 500 up 9.5%, Dow Jones up 8%, and Nasdaq climbing 12%. The administration claimed the pause was due to trade talks negotiations with 75 countries. Donald Trump Jr.’s stake increased by $415 million following the market surge.
The fallout was swift and furious. Congressional Democrats, led by Senator Adam Schiff and Representative Alexandria Ocasio-Cortez, launched into action, demanding investigations and complete transparency of recent stock trades by government officials. Their May 15th deadline for disclosures loomed like a sword of Damocles over Washington.
Making matters worse, Trump couldn’t resist bragging. Video clips captured him boasting about specific executives’ windfall profits – $2.5 billion and $900 million – earned the same day as the tariff news. Not exactly the kind of thing you want floating around when facing accusations of running “the world’s biggest market manipulation scheme.”
Legal experts weighed in, noting that while a public post alone might not constitute insider trading, the timing and content raised serious red flags about market manipulation. The whole affair reeked of conflicts of interest, given Trump’s personal stake in affected companies.
Senator Chris Murphy didn’t mince words, labeling it a “potential insider trading scandal.” The controversy added fuel to ongoing debates about stock trading by public officials. Meanwhile, political opponents accused the administration of orchestrating a classic “pump and dump” scheme that benefited insiders at the public’s expense.
The S&P 500’s $4 trillion market value recovery might have looked great on paper, but the stench of potential manipulation hung heavy in the air. For a former president already facing multiple legal challenges, this latest controversy was about as welcome as a margin call on a bear market Monday.
