Several U.S. ambassadors actively shed their stock holdings as President Donald Trump tried to downplay the coronavirus outbreak in its early stages.
Ambassadors to Uruguay, France, Morocco and Italy sold shares in transactions that could have made them millions of dollars, according to financial disclosure filings reviewed by CNBC. Much of their sales were in January and continued throughout February, the records show. Their transactions line up with a timeline of federal and congressional announcements as the virus started sweeping across the globe earlier this year.
Some of the ambassadors’ stock transactions were for companies involved with research or developing products that are linked to treating patients that have contracted the coronavirus, such as biopharmaceutical firms.