UPDATED 3/2/18: Trump Guilty of Pump & Dump of Steel and Aluminum Stocks

 Today Donald Trump announced tariffs on steel and aluminum manufacturing countries (mostly China) to punish them for 'dumping' product at less than manufacturing costs. There was immediate talk-down from other administration officials, then debate around town, and finally Trump reissued the order. Naturally, the stock market reacted: it dropped a bunch.

This is a classic case of someone in a position to influence others talking down a stock price. It's manipulation. It's a crime. People go to jail for this kind of thing.

Was there an actual tariff announced? No, that has yet to be seen. Trump changes his mind when it suits him.

What if there is no tariff and the stocks go back up? Will Trump or his family benefit? Will Trump friends and allies in the market benefit? Trump is using his office (the presidency) to manipulate people beyond his duties.

UPDATE

Apparently Carl Icahn was able to read Donald Trump's mind and took advantage by selling (dumping) "$31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports".

Icahn Dumps Steel Stocks