Democratic leaders are calling for an investigation into whether US President Donald Trump engaged in insider trading before reversing his tariff policy. Hours before announcing a 90-day pause on most tariffs, excluding China, Trump posted “THIS IS A GREAT TIME TO BUY” on Truth Social. The S&P 500 jumped over 9% after the news. Democrats are demanding an investigation after a spike in Nasdaq call options, bets on rising stock prices, occurred just before Trump reversed his tariff policy. The S&P 500 saw its biggest jump since 2008 following the announcement. Lawmakers, including Sen. Adam Schiff, suspect Trump may have tipped off wealthy allies ahead of time. “Who knew in advance the president would flip-flop again on tariffs?” Schiff asked, warning of insider trading risks within the administration. Sen. Elizabeth Warren called it “corruption in plain sight” and has called for an independent probe. She also pushed for her bipartisan resolution to limit the president’s tariff powers, which Trump has exercised by declaring trade imbalances a national emergency. “Any member of Congress who purchased stocks in the last 48 hours should probably disclose that now…“It’s time to ban insider trading,” said Alexandria Ocasio-Cortez, the Left-wing House representative. The White House has denied all claims of insider trading, with spokesperson Kush Desai accusing Democrats of “grasping at straws” instead of working with the administration. According to The New York Times, even top officials were blindsided by Trump’s tariff reversal. US Trade Representative Jamieson Greer reportedly found out while testifying in support of the original plan. Sources suggest that a sharp sell-off in US bonds, typically viewed as a safe haven, triggered by the sudden shift, as Trump feared being blamed for a financial crisis similar to the 2008 crash.
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USA TODAY
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Associated Press
flipped into Business and Finance
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