Senator Adam Schiff has said Democrats in Congress will begin probing President Donald Trump's administration for insider trading following the recent volatility in the markets caused by his shifting tariffs.
Despite insisting that he would hold firm on his sweeping tariffs on trading partners around the world, Trump announced a 90-day pause for most countries on Wednesday. However, the president still increased tariffs on Chinese imports to 125 percent.
Newsweek has contacted the White House for comment outside of regular working hours.
Why It Matters
The stock market jumped quickly on Wednesday, with the S&P 500 closing up 9.5 percent, following Trump's announcement of a 90-day pause on most tariffs.
Markets around the world had seen a huge selloff, with the S&P 500 losing more than 10 percent, following the president's announcement of his "Liberation Day" tariffs on April 2. Economists warned of a possible recession.
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Trump Admin Faces 'Insider Trading' Investigation Over Stock Market Surge
- by: Shane Croucher and Khaleda Rahman
- 2025-04-10
- Source:
News Week
- 04/11/2025
white house by Wally Gobetz is licensed under https://creativecommons.org/licenses/by-nc-nd/2.0/
white house by Wally Gobetz is licensed under https://creativecommons.org/licenses/by-nc-nd/2.0/
