Mystery traders 'made $1.8bn from stock bet' placed hours before Trump tweeted talks with China were ‘back on track’
Unknown actors may have made billions from the turmoil Donald Trump has created in the markets through erratic tweets, shoot-from-the-hip foreign policy, and the trade war with China, according to a new report.
A Vanity Fair deep-dive into stock market activity has uncovered several instances where advantageous trades were made suspiciously close to market-moving events.
One trade, made just before Iranian drones attacked Saudi Arabian oil production facilities, netted $180m. Another trade, made shortly before Mr Trump announced a delay in tariffs on Chinese goods, made $190m. The biggest trade of all came on June 28, while Mr Trump was at the G20 meeting. There, he met with President Xi and announced trade negotiations were "back on track."
Those trades ended up being worth $1.8bn thanks to an 84 point boost in the S&P 500 index following Trump's announcement.
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