US senators defend selling shares before coronavirus crash

After negotiating all day, they told reporters late Friday that they had not yet reached a deal, but would resume their talks on Saturday.

"Understanding the assumption many could make in hindsight, however, I spoke this morning with the chairman of the Senate ethics committee and asked him to open a complete review of the matter with full transparency," Mr Burr said in a statement.Ms Loeffler, who was appointed to the Senate and took her seat in January, sold up to US$3.1 million in stocks in 27 transactions from Jan. 24 through mid-February, as first reported by The Daily Beast.

"Senator Burr owes North Carolinians an explanation," fellow North Carolinian and Republican Senator Thom Tillis wrote on Twitter."His self-referral to the Ethics Committee for their review is appropriate, there needs to be a professional and bipartisan inquiry into this matter." Republican Senator James Inhofe and Democratic Senator Dianne Feinstein also sold stock, according to filings, but both said they were not involved in the transactions. Neither has faced the same scrutiny as Mr Burr and Ms Loeffler.

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