Source: Global Market Express

At 9:37 a.m. EDT, a social media post appeared out of nowhere.

"This is a great time to buy!!!" wrote U.S. President Donald Trump.

The S&P 500 index had opened lower and was on the brink of entering a bear market after four consecutive days of暴跌 that wiped out over $6 trillion in value. Hours earlier, the U.S. had imposed its harshest tariffs on trade partners in over a century.

The root cause of the selling spree was simple: Trump had ignited a global trade war. And because of this, he possessed an unparalleled ability to act accordingly.

Of course, the president and his advisors have insisted all week that foreign countries cannot escape the tariffs. "My policy will never change," Trump posted last week.

But it would be well worth it. Based on the market rally triggered by rumors of a tariff pause on Monday, the wealthy could harvest over $2 trillion from the market surge.

When the S&P 500 index plummeted on both Monday and Tuesday, Trump claimed he wasn't paying attention to the market and said the economy needed to "take medicine" to become stronger. His Treasury Secretary Scott Beetsant also stated they were not focused on Wall Street. He said it was time to give way to the real economy.

Then this morning, Trump posted this message.

Three and a half hours later, the rumor on Monday became Wednesday's news. Trump suspended high tariffs for most countries. The stock market surged within minutes. The S&P 500 index soared by more than 9%, creating $4.3 trillion in profits.

David Wagner, portfolio manager at Aptus Capital Advisors LLC, didn't believe it was true when he saw Trump's post early on Wednesday morning.

"Is this a violation? I don't know, Trump doesn't follow any set of rules," Wagner said. "Clearly, you can now find any clues from Trump."

"We shouldn't forget that Trump also said similar things during his first term," Wagner said, "the rules about the market and direct presidential intervention have changed."

Original article: https://www.toutiao.com/article/7491439271719502386/

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