President Donald Trump's recent decision to pause most tariffs has led to a surge in the stock market, sparking allegations of insider trading and market manipulation from prominent Democrats.

The Details: Trump announced a 90-day pause on his sweeping “reciprocal tariff” policy on nearly every country except China. Following the announcement on Wednesday, the Dow Jones Industrial Average gained 3,000 points. As a result, Sen. Adam Schiff (D-CA) and Sen. Ruben Gallego (D-AZ) wrote a letter to the White House Chief of Staff calling for an investigation into potential insider trading.

For Context: Elon Musk, head of Tesla and cost-cutting advisor for the Department of Government Efficiency, regained $36 billion as Tesla stock surged by 23%; the company stock is currently trading around $250 per share, well below its recent high of $479.86 in December. In a video posted to X, Trump pointed to Charles Schwab and Roger Penske, saying, "He made $2.5 million today, and he made $900 million! That’s not bad.”

How the Media Covered It: Fortune (Center bias) included Sen. Elizabeth Warren’s (D-MA) statement on the Congress floor that “Americans need to know whether President Trump or anyone in his administration manipulated the market to benefit their donors.” Fox News (Right bias) highlighted that the White House labeled Democrats' calls for an investigation "partisan games.” Fox News was also the only outlet to include a statement from Treasury Secretary Scott Bessent saying Trump paused the tariffs so he could be personally involved in the negotiations. The New Republic (Left bias) wrote that Trump was “openly bragging” about how his “billionaire buddies” profited over the policies.

Revised by the AllSides staff (of humans) after a first draft from our custom AI. Learn more. Support our mission. Suggest an improvement to this summary.