NEW YORK (AP) — On Wednesday morning, as Donald Trump shared some financial advice, the stock market was fluctuating between gains and losses.
However, that soon changed.
“THIS IS A GREAT TIME TO BUY!!! DJT,” he posted on his social media platform Truth Social at 9:37 a.m.
Less than four hours later, Trump declared a 90-day suspension of nearly all his tariffs. Following the announcement, stocks surged, ending the day up 9.5%. The market, as indicated by the S&P 500, regained approximately $4 trillion, or 70%, of the value lost over the previous four trading days.
It was a remarkably astute prediction by the president. Perhaps too astute.
“He’s enjoying this influence over the markets, but he needs to exercise caution,” remarked Trump critic and former White House ethics lawyer, Richard Painter, pointing out that securities laws prevent trading on insider information or aiding others in doing so. “Those who invested after seeing that post made substantial profits.”
The pressing question is: Was Trump already considering the tariff pause when he made that post?
When asked about the timing of his decision, Trump provided a somewhat unclear response.
“I would say this morning,” he stated. “I’ve been mulling it over the past few days.”
He then continued, “Fairly early this morning.”
In an email seeking further clarification about the timing, a White House spokesperson didn’t provide a direct answer but defended Trump’s post as part of his responsibilities.
“It is the duty of the President of the United States to assure the markets and the American people about their economic security amidst continuous media alarmism,” wrote White House spokesman Kush Desai.
Another intriguing aspect of the post was Trump’s signoff with his initials.
DJT also serves as the stock symbol for Trump Media and Technology Group, the parent company of his social media platform Truth Social.
It remains uncertain whether Trump was referring to purchasing stocks in general or specifically in Trump Media. The White House was asked for clarification but did not address that point. Trump occasionally includes “DJT” in his posts, usually to indicate that he personally authored the message.
This ambiguity didn’t prevent investors from flooding into that stock.
Trump Media closed up 22.67%, doubling the broader market’s rise—a remarkable outcome for a company that lost $400 million last year and seems largely unaffected by the status of tariffs.
Trump’s 53% stake in the company, which is now in a trust overseen by his eldest son, Donald Trump Jr., increased by $415 million on that day.
Trump Media’s performance was closely matched, although slightly behind by just two hundredths of a percentage point, to another investment favored during Trump’s administration — Elon Musk’s Tesla.
Last month, Trump held an extraordinary news conference outside the White House to commend the company and its vehicles. This was followed by a Fox TV appearance by his commerce secretary encouraging viewers to invest in the stock.
Tesla’s remarkable increase on Wednesday added $20 billion to Musk’s wealth.
Kathleen Clark, an expert in government ethics law at Washington University School of Law, asserts that Trump’s post would have attracted scrutiny in other administrations, but is unlikely to provoke any significant reactions now, aside from possibly increasing Truth Social’s viewership.
“He’s signaling that he can manipulate the market effectively and without consequence,” she said, “As if to say: Keep an eye out for future stock tips.”
