Trump administration allegedly tipped off Wall Street about US-India deal
What's the story
The Trump administration is accused of leaking privileged information to Wall Street executives about a potential trade deal with India.
Fox Business Correspondent Charles Gasparino disclosed on X that people inside the Trump White House have been informing Wall Street executives that they are close to an "agreement in principle" on trade with India.
The information was reportedly obtained from senior Wall Street executives who have ties to the White House.
Controversy
Allegations of insider trading and market manipulation
Gasparino's revelation has led to allegations of "insider trading"; Wall Street firms could profit from such information in the stock market.
Bloomberg reporter Joel Weisenthal asked, "Why are Wall Street executives getting early alerts from people inside the Trump White House about the status of trade negotiations?"
A Wall Street analyst also asked why the SEC (Securities and Exchange Commission) allows such practices.
Past incidents
Trump's history of benefiting billionaires
The allegations come weeks after Trump bragged about his billionaire buddies making money from tariffs he announced on April 2.
"THIS IS A GREAT TIME TO BUY!!!!" he posted on Truth Social, four hours before suspending the controversial tariffs on April 9.
Bloomberg reported that Wednesday was the "best day ever" for billionaires as they collectively gained $304 billion when markets surged back up.