Chris Cuomo suggested high-level insider trading may have been taking place in the market chaos following Donald Trump’s tariffs “pause” last week, as the NewsNation host pieced together some sketchy circumstances around the president’s surprise announcement.
The former CNN anchor didn’t name names, but raised the question as to whether Trump’s wealthiest allies and/or members of Congress may have been among the many investors who profited enormously in the ensuing shockwave that sent stocks higher last Wednesday, immediately after Trump announced a 90-day “pause” on tariffs for countries negotiating new trade deals with the United States.
Cuomo said he wants Trump’s efforts to succeed in better trade deals for America, but the messaging thrash leaves him suspicious.
“Why do we assume that what this administration is doing has anything to do with that?” Cuomo said Saturday. “Because they say so? They say a lot of things that don’t make sense or are soon contradicted.”
He then posed a question he said “many don’t want to ask”: “Why does it seem that some got so rich on this volatility?”
“For instance, how did Newsmax — a struggling mouthpiece media company — go from a $14 stock to $260, and then crash back down? You don’t think people got paid on that deal? What if even part of all these maneuvers — this schizo-strategy— isn’t really about deals for us? Not all of us, or even the middle class, but about helping just a select few?”
Cuomo – who has long opposed members of Congress holding stocks – was suspicious not just of Trump cronies, and found Democrats’ calls for an investigation hypocritical: “Whether you’re talking about Trump, Pelosi, or anyone else in power, it’s hard to take these accusations seriously when they come from people who may also be benefiting from the same system they’re criticizing.”
Cuomo put up a chart showing a massive spike in market activity in the moments before Trump’s social-media post, saying:
“There were extremely suspicious trades just minutes before Trump announced he was pausing the tariffs. Moments before he announced … traders started betting big that the market was going to go up by the end of the day. How? How genius is that? An extremely risky bet. … Whoever made those bets saw a 2,000% return.”
Cuomo said he didn’t know of any connection, “but then why did Trump, in the Oval Office, brag that his billionaire friend Charles Schwab made a killing on the market the day he paused the tariffs?”
Watch the entire monologue in the video above.
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