Multiple media analyses of financial filings show that members of Congress executed a surge of securities transactions immediately after President Donald Trump’s early-April “Liberation Day” tariffs, which imposed a 145 percent levy on Chinese goods. House records reveal more than 6,000 trades during the week of the announcement, a period that saw sharp market swings. Some of the most active traders are lawmakers who have publicly advocated restricting or banning stock trading by elected officials. Representative Rob Bresnahan of Pennsylvania has logged more than 500 trades since entering Congress. Senator Markwayne Mullin reported over $400,000 in transactions, including the purchase of shares in drone-maker L3Harris Technologies one day before Trump signed an executive order to expand domestic drone production. Representative Byron Donalds bought Amphenol stock ahead of a favorable earnings release; the shares have gained about 46 percent since his purchase. The congressional activity coincides with broader market turbulence. Although major U.S. indexes have rebounded to within sight of February’s record highs, corporate executives are unloading shares at the fastest pace since last November, according to trading data. The pattern has prompted renewed calls from watchdog groups to prohibit lawmakers from buying or selling individual securities while in office.
UPDATE: We recently posted a report on a purchase of Amphenol stock by Representative Byron Donalds. It caught our attention because we'd never seen him trade the stock before. They released a strong earnings report right after his trade. The stock has now risen 46% since. https://t.co/AeUUu8132j
Look at this. Senator Markwayne Mullin filed more than $400,000 in stock trades. He bought L3Harris, $LHX., a drone manufacturer. Yesterday, Trump signed an executive order to increase US-made drone production. Mullin is on the Armed Services Committee. https://t.co/auhFndgQ9C
The US stock market is back on track and within spitting distance of February’s all-time highs. Yet corporate executives are dumping shares at the fastest clip since November. https://t.co/6OPYetUFef