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The Indicator from Planet Money

Did Trump enable insider trading?

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 16 April 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

On the morning of April 9, President Trump posted on Truth Social "THIS IS A GREAT TIME TO BUY!!! DJT." Around four hours later, he announced a pause on some new tariffs, causing a stock market spike. Now, Democrats are demanding an investigation into possible insider trading. But were Trump's posts actually insider trading?

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Morally questionable, economically efficient (Apple / Spotify)
An insider trader tells all

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Transcript

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0:00.0

NPR.

0:11.6

It's been a roller coaster of a month on the stock market.

0:15.5

At the start of April, President Trump made his big announcement that he had slapped huge new tariffs on most of the world.

0:22.6

That sent markets into free fall.

0:25.5

It was the steepest drop in share prices since the early days of the pandemic.

0:29.9

And then a week later, Trump announced that he would pause a lot of those tariffs for 90 days.

0:35.7

I thought that people were jumping a little bit out of line.

0:39.9

They were getting yippy, you know?

0:42.1

They were getting a little bit yippy, a little bit afraid.

0:45.0

And thus, the pause.

0:47.6

After this announcement, the stock market had a great day, a whatever the opposite of yippie is.

0:53.6

One of the highest percentage rises in one day, in fact.

0:57.4

From yippie to yippee! Now, that morning, Trump had posted on his social media company Truth Social.

1:04.1

He'd said that now was a great time to buy. And if you'd followed that advice, you could have made a lot of money.

1:11.5

And this got many Democratic politicians asking authorities to investigate possible insider trading.

1:17.5

Senator Elizabeth Warren spoke to CNN about this on Sunday.

1:20.2

And it's entirely appropriate to have an investigation to make sure that Donald Trump, Donald Trump's family, Donald Trump's inner circle didn't get

1:30.1

advanced information and trade on that information.

1:34.4

And you know, it's not just politicians wondering about this.

1:37.5

Last week, Google searches for the term insider trading spiked.

1:42.8

This is The Indicator for Planet Money. I'm Adrienne Ma. And I'm Darien Woods. Today is the indicator for Planet Money.

1:44.6

I'm Adrienne Ma.

...

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