Democrats are calling for a federal investigation after President Donald Trump posted a market-boosting message just hours before announcing a tariff pause that sent stocks soaring.
At a Glance
- Trump posted “THIS IS A GREAT TIME TO BUY!!! DJT” on Truth Social before announcing a 90-day tariff pause
- Markets surged, with the S&P 500 gaining 9.5% and Trump Media stock jumping over 22%
- Democratic lawmakers, including Senators Warren and Schiff, are urging the SEC to investigate potential insider trading
- Critics question whether Trump’s post was intended to benefit his own financial interests
- Legal experts highlight the ambiguity in insider trading laws concerning public officials
Trump’s Market Move Raises Eyebrows
On April 9, 2025, at 9:37 a.m., former President Donald Trump posted on Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT.” Just hours later, he announced a 90-day pause on most tariffs, excluding those on Chinese imports. This unexpected policy shift led to a dramatic market rally, with the S&P 500 jumping 9.5% and Trump Media & Technology Group stock—trading under the ticker symbol “DJT”—climbing over 22%, according to reporting by the Associated Press.
The timing of Trump’s social media post and the subsequent surge in his media company’s stock have drawn sharp scrutiny. Lawmakers and ethics watchdogs are questioning whether Trump or his associates used non-public information to enrich themselves before the tariff announcement was made public.
Watch NBC News’ report on the insider trading allegations against Trump.
Lawmakers Demand Answers
In response, prominent Democrats have called for immediate investigation. Senator Elizabeth Warren and Senate Majority Leader Chuck Schumer led a coalition of lawmakers in sending a letter to the Securities and Exchange Commission (SEC), demanding a probe into whether Trump or his allies used insider knowledge to benefit financially. The letter accused Trump of manipulating the market “at the expense of everyday Americans,” as reported by The Guardian.
Senator Adam Schiff echoed the concern, telling reporters, “These constant gyrations in policy provide dangerous opportunities for insider trading.” Representative Alexandria Ocasio-Cortez went further, calling for all members of Congress to publicly disclose any recent stock trades, emphasizing the need for “maximum transparency,” according to NBC News.
Legal and Ethical Implications
The question now turns to legality. While U.S. law prohibits trading on material non-public information, proving insider trading is complex—particularly when a public figure disseminates the information in a widely visible forum. Legal scholars, such as Loyola Law’s Michael Guttentag, argue that intent and timing are crucial. As quoted in Time, Guttentag said investigators would need to examine communication logs and trading records to establish wrongdoing.
Further complicating matters is Trump’s use of the letters “DJT” in his post, which also happen to be the ticker for his publicly traded company. Critics claim this creates a direct conflict of interest and blurs the line between presidential communication and personal promotion. Ethical watchdogs have expressed concern that Trump may have been attempting to manipulate public sentiment and market dynamics to his own advantage.
Ongoing Scrutiny
The SEC has not confirmed whether it is pursuing an inquiry. However, the situation has reignited long-standing debates over the regulation of financial conduct by public officials and the loopholes that often shield them from accountability.
As the controversy unfolds, Trump has dismissed the accusations, calling them “a political witch hunt.” Meanwhile, videos of the tariff announcement and the market’s response have garnered hundreds of thousands of views online, reflecting broad public interest in the intersection of politics and profit.
Whether the actions were criminal or simply unethical, the episode has once again highlighted the urgent need for clearer boundaries—and consequences—when political power intersects with personal wealth.
