Secretary of Defense Pete Hegseth sold off 23 stocks just days before Donald Trump announced sweeping tariffs that triggered a stock market plunge, according to newly released financial disclosures.
On March 24, Hegseth sold between $100,000 and $550,000 in shares from companies including Microsoft, Apple, Amazon, Walmart, and Lowe’s — most of which suffered steep losses after Trump’s April 2 tariff announcement.
The trades raise concerns about potential insider knowledge, particularly as Hegseth is a key cabinet official and the tariff rollout was not public at the time.
According to NOTUS, Hegseth is one of several government officials and members of Congress who made timely trades that financially benefited from the market volatility surrounding Trump’s announcement.
There’s no indication yet that Hegseth violated any laws, but ethics experts say the timing is “highly suspicious” and could warrant further scrutiny.
The Department of Defense has not yet commented on the transactions.
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