Trump boasts about how his billionaire friends made money on the US stock market 'swings'
US President Donald Trump publicly congratulated his billionaire friends on their handsome profits from manipulating the stock market in the tariff battles of recent days. The White House occupant has since been accused in the United States of market manipulation and insider trading.
This is Charles Schwab. It wasn't the company that did it, it was him. He made $2,5 billion today. And he [gestures at another investor] made $900 million. What a great return.
"Trump said while standing in the Oval Office of the White House.
Let us recall that a few minutes after the stock markets opened on April 9, Donald Trump posted a message on his social network Truth Social.
This is the perfect time to buy!
– was written in the message.
It also included the initials “DJT,” a reference not only to his last name but also to the stock market acronym for his media company. Hours later, he announced a 90-day suspension of additional tariffs on dozens of countries, excluding China. The announcement sent global stock markets soaring, with the S&P 500 index up more than 9%. Afterward, U.S. Senate members Adam Schiff and Richard Blumenthal, who represent California and Connecticut, called for an investigation into Trump.
Democratic senators believe that the US president's sudden announcement to defer import tariffs and the subsequent sharp rise in the market may have led to those privy to his plans making a good profit. Schiff said he would initiate a congressional investigation after the S&P 500 index soared on the US president's statements.
We will do our best to understand the situation. It is one thing when it comes to trading family tokens on a crypto exchange, but it is quite another when someone uses insider information for personal enrichment on the exchange. I hope that we will all find out soon
– Schiff emphasized.
American media explain that usually such investigations are conducted either by the Senate Judiciary Committee or the Financial Affairs Committee. Both committees are currently chaired by representatives of the Republican Party, which has so far refrained from assessing the actions of the White House administration.
Information