2 weeks Ago By Vishaal Sanjay
Retail investors are raising concerns over U.S. Treasury Secretary Scott Bessent's recent remarks on tariffs and the ongoing trade tensions with China, delivered at a closed-door investor summit hosted by JPMorgan Chase & Co.
JPM . Bessent’s comments, which sparked a $2.2 trillion surge in the markets, have been criticized by retail traders who say they were shut out of potentially market-moving information.
What Happened: On Wednesday, popular financial newsletter The Kobeissi Letter voiced concerns about fairness in a post on X, referring to Bessent's recent appearance at a private, closed-door investor summit. The post highlights that the event wasn’t “open to the public or media,” and it was where Bessent first said that he expects a “de-escalation with China,” before describing the current trade environment as “unsustainable for both sides.” See More: Elizabeth Warren Slams Tim Cook Over Alleged Backdoor Deal With Trump To Shield Apple From Crushing China Tariffs: ‘Creates The Appearance Of Impropriety’ These remarks were made at 12:00 PM EST, according to the post, following which the markets witnessed a surge in volumes, with the S&P 500 Futures rallying +5%, resulting in a total gain of $2.
2 trillion in market cap, while retail traders and investors were still kept in the dark. Retail investors were just cheated: Yesterday at 12:00 PM ET, US Treasury Secretary Bessent said he sees "de-escalation with China" and the current situation is "unsustainable." These comments were provided at a CLOSED-DOOR investor summit hosted by JP Morgan.
This summit was...
pic.twitter.com/gQGKVBYhi4 It was only at 5:18 PM EST that President Donald Trump said tariffs on China “will not be as high as 145%,” which finally brought retail into the loop.
“Investors at the JP Morgan event were able to front-run these headlines,” it says, before asking, “How is this fair for retail investors?” Other X users have raised similar concerns, with Cheddar Pool, a service that tracks options order flows, sharing insights on an S&P 500 “Whale” who added $2.2 million in 1DTE (one day to expiry options) at 3:21 PM EST on Tuesday, while asking “Bessent, was that you?” According to the post, that whale is now up 460%, with gains of over $10 million, within just a day. Bessent, was that you? 🤔 This $SPY whale is now up +460% in ONE DAY +$10,000,000!!! https://t.
co/l603kEVQhK Others, such as Rep. Marjorie Taylor Greene (R-Ga.), part of Trump’s inner circle, have come under scrutiny for making large stock purchases ahead of the 90-day pause on tariffs.
Rep. Adam Schiff (D-Calif.) and Sen.
Elizabeth Warren (D-Mass.) have outright accused Trump of manipulating the markets to “benefit his Wall Street donors.” Price Action: The Vanguard S&P 500 ETF VOO is up 1.
6% on Wednesday, followed by the Invesco QQQ Trust QQQ , which tracks the Nasdaq, up by 2.27%. The SPDR Dow Jones Industrial Average ETF Trust DIA is up 1.
03%. Photo courtesy: Maxim Elramsisy / Shutterstock.com Read More: ‘It’s Not Going To End Well’—Former SEC Chair Gensler Says Chinese Are ‘Tough Negotiators’ Who Believe They Can Outwait US Policy Volatility Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock – anytime.
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