The burst of stock purchases occurred near the end of a sharp four-day market decline triggered by the announcement of his broad tariff plan. According to CNBC, Trump concentrated his buying on large-cap tech shares that had suffered losses after he unveiled his policy - which he called "liberation day" - on April 2.
The S&P 500 index closed below 5,000 on April 8, coming very close to entering bear market territory. All these companies are part of the Magnificent Seven group.
On April 9, just after the market opened, Trump contributed to a sudden market reversal. He used his social media platform Truth Social to write, "THIS IS A GREAT TIME TO BUY!!!" Later on April 9, Trump said he would reverse some of the tariffs that had been roiling markets since the previous week.
Get your free investing masterclass bonus when you join Market Briefs, our free daily newsletter
Apple's stock fell 5% on April 8, extending its losing streak to four days. The next day, Apple shares jumped over 15%, the company's biggest single-day gain since 1998. Nvidia lost more than 1% on April 8.
The next day, the chipmaker soared almost 19%.
When CNBC asked about the timing of Trump's April 8 trades, the White House responded with broad remarks about the president's wealth. "As President Trump said, he has a lot of assets because he was a massively successful businessman prior to becoming President, which was why he was elected to office in the first place," said White House spokesperson Anna Kelly in a statement to CNBC.
"All of the President's assets are in held in fully discretionary accounts managed by independent third‑party financial institutions. There are no conflicts of interest." In remarks to reporters on Wednesday, Trump stated that outside managers handle his trading. "I don't get involved in my personal - we have funds that run my money," Trump told reporters.
This situation highlights a key aspect of Trump's second term: a leader who can influence markets also has substantial personal investments - more than any prior president. According to CNBC's analysis, the April trades are only one item in a 927-page disclosure document showing $2.24 billion in 2025 revenue, which includes hundreds of millions from crypto, over $290 million from golf and club properties, and more than $86 million from legal settlements. The disclosure also shows Trump earning ongoing income from merchandise bearing his name and accepting gifts like sports tickets.
The market swings in early April 2025 did not go unnoticed by ordinary investors, who observed Trump's impact on stocks. On Reddit's WallStreetBets forum, some users celebrated that they had bought stocks before Trump urged others to do so. However, others were more critical, comparing his behavior to market manipulation. "Can you imagine the insider trading?," one user wrote. "Like if you are inside the white house and don't come out of this a brazillionai[r]e you are literally the dumbest person on the planet."
Subscribe to Market Briefs, our free daily newsletter, and claim your bonus investing masterclass