Democrats pen letter asking SEC to investigate Trump, allies for alleged market manipulation [Video]

A group of Democratic lawmakers is calling on the Securities and Exchange Commission (SEC) to investigate “potential violations” of federal securities laws by U.S. President Donald Trump or members of his inner circle.

In a letter released on Friday, they asked the independent government agency to investigate “whether President Trump, any members of his cabinet, or other donor, insiders, and Administration officials engaged in insider trading, market manipulation, or other securities laws violations on April 9, 2025.”

Senators Elizabeth Warren, Chuck Schumer, Ruben Gallego, Mark Kelly, Adam Schiff and Ron Wyden signed the letter.

A days-long downward spiral on stock markets ended on Wednesday, when Trump suddenly announced a 90-day pause on some hefty global “reciprocal” tariffs first announced last week.

Stocks soared on the news, with the S&P 500 closing up 9.5 per cent by the end of trading that day, and the Nasdaq Composite closing up 12.2 per cent. The market, measured by the …