| Buy on rumour, sell on news, they say, though the first takes strong nerves. |
[Daily Mail, where America gets its news] Minutes before President Donald Trump's tariff pause, investors made strangely prudent financial moves.
On the internet, people are ablaze with suspicion.
| …all envious because they missed the timing themselves. |
The stock market descended rapidly last Thursday and Friday, as the Trump administration doubled down on a larger-than-expected 'reciprocal' tariff policy.
But then Trump paused the policy via a post on Truth Social at 1:18pm on April 9, sending stock prices soaring in a record-setting single-day rally.
In the 18 minutes leading up to Trump's tariff pause announcement, a handful of popular ETFs lit up with unusual trading activity. Volumes on QQQ, SPY, and TQQQ surged — and fast.
For example, in the five-minute interval that ended 18 minutes before Trump posted the news online, trading in QQQ spiked from a steady clip of around 214,000 shares every five minutes to nearly 1.5 million, according to MarketWatch data.
The volume spikes of the ETF lit up Subreddits, like Wall Street Bets ELITE, including one thread titled 'Is Trump Pulling Off the Biggest Financial Fraud in History? A Dire Warning.'
The thread has 5,500 likes and 163 comments. |