Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Business trump indicted

Former President Donald Trump was indicted on what is reported to be more than two dozen charges related to business fraud(Photo by Jabin Botsford/The Washington Post via Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Mar 31, 2023

The Market Feels Little Effect Of Trump’s Indictment

Following former President Donald Trump’s indictment Thursday, stocks associated with the New York businessman have jumped—and that is not the only effect the legal action may have.

Key Details

  • Earlier this week, Donald Trump was indicted on what is reported to be more than two dozen charges related to business fraud, CNN reports—though the charges ultimately relate to his paying $130,000 to a porn star he is alleged to have had an affair with so that she would not talk about their relationship. 
  • Blank-check firm Digital World Acquisition Corp., Phunware, and Rumble saw stock market gains following Trump’s indictment. 
  • All three stocks are associated with the former president. Digital World has plans for a potential merger with Trump’s Truth Social. Phunware helped develop Trump’s mobile app for his campaign. Rumble is a video-sharing platform that works in partnership with Truth Social. 
  • Stocks associated with Trump frequently rise when the former president appears on the news.
  • The indictment may have broader market implications as critics and supporters of Trump clash over fiscal decisions in Congress. 

Why it’s news

The indictment from a Manhattan jury marks the first time a U.S. president has been charged with a crime. The two dozen or so charges ultimately relate to the former president paying $130,000 to a porn star he is alleged to have had an affair with so that she would not talk about their relationship. The payment took place shortly before the 2016 presidential election and is thus considered a violation of campaign laws. The indictment is controversial not because people disbelieve it, but rather because it is unprecedented to charge a leading presidential candidate with a crime.

The exact charges have not been made public yet, but the incident is still bound to affect the overall economy—whether directly or indirectly.

For the stock market as a whole, the indictment had little effect because it has been reported to have been coming for weeks. However, the news was evident in Trump-associated stocks. Digital World jumped nearly 7.4% on Friday, Phunware saw a 2.5% increase, and Truth Social a 10% gain, Reuters reports. 

Already, Congress is divided along party lines concerning whether or not to raise the debt ceiling. Further division resulting from the Trump indictment could delay solutions to pressing fiscal issues. While some members of the GOP are not supportive of the former president, Trump is considered by many to be the face of the Republican Party. His indictment could dissuade Republicans and Democrats from working together on pressing issues like the debt ceiling. 

While Speaker of the House Kevin McCarthy seeks to negotiate with the White House to raise the debt ceiling, he must also convince his party to agree to whatever concessions the negotiations settle on.

Just a few months ago, McCarthy struggled to rally enough support to win his Speaker of the House election. Many members of the Republican group that opposed his election are also ardent Trump supporters. The recent indictment could make it difficult for McCarthy to convince them to agree to debt ceiling negotiations.

Notable quotes

In response to the indictment, Trump released a lengthy statement, saying, “This is Political Persecution and Election Interference at the highest level in history. From the time I came down the golden escalator at Trump Tower, and even before I was sworn in as your President of the United States, the Radical Left Democrats—the enemy of the hard-working men and women of this Country—have been engaged in a Witch-Hunt to destroy the Make America Great Again movement … The Democrats have lied, cheated, and stolen in their obsession with trying to ‘Get Trump,’ but now they’ve done the unthinkable—indicting a completely innocent person in an act of blatant Election Interference.”

McCarthy tweeted in support of Trump and attacked the Manhattan District Attorney leading the charge against Trump, Alvin Bragg. 

“Alvin Bragg has irreparably damaged our country in an attempt to interfere in our Presidential election. As he routinely frees violent criminals to terrorize the public, he weaponized our sacred system of justice against President Donald Trump. The American people will not tolerate this injustice, and the House of Representatives will hold Alvin Bragg and his unprecedented abuse of power to account,” McCarthy says.

Democrat representatives were largely supportive of the news. Representative Adam Schiff (CA), who led Trump’s first impeachment trial, says, “The indictment of a former president is unprecedented. But so too is the unlawful conduct in which Trump has been engaged.”

Former Speaker of the House Nancy Pelosi (D-CA) also expressed support for the indictment in a tweet: “No one is above the law, and everyone has the right to a trial to prove innocence. Hopefully, the former President will peacefully respect the system, which grants him that right.”

Home / News / The Market Feels Little Effect Of Trump’s Indictment
Share
FacebookTweetEmailLinkedIn

Related Stories

Wall Street Makes $100 Billion Bet on Weight Loss Pills

by PJ Howland Leaders Staff
Investing

Oct 25, 2023

Ozempic

Investor optimism around a potential blockbuster obesity drug by Structure Therapeutics led to soaring share prices across the weight-loss pharma sector.

Key Details

  • Structure Therapeutics' stock jumped 35% after reporting positive results from early clinical trials of a once-daily weight-loss pill.
  • The experimental drug helped participants lose about 5% of their body weight over one month without side effects, although there are concerns with Ozempic.
  • Analysts predict the global anti-obesity medication market could reach sales of $100 billion by 2030, up from $71 billion currently.
  • With promising growth prospects, investors are betting on companies developing new weight loss drugs like Structure, Eli Lilly, Novo Nordisk, and Pfizer.

Go deeper

FacebookTweetEmailLinkedIn

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn
Chevron Gas Deal
Markets

Oct 23, 2023

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com