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Photo by Mandel Ngan/AFP via Getty Images

Sen. Kelly Loeffler (R-Ga.) and her husband, Jeffrey Sprecher, purchased and sold about $1.4 million in stock during the market panic set off by the coronavirus pandemic, the Wall Street Journal reports.

Why it matters: Though the couple still lost money, they were able to limit the financial blow from the stock market's worst month since October 2008.

Details: Loeffler reported that she and her husband bought $590,000 worth of stock and sold about $845,000 from Feb. 18 through March 13, according to WSJ's review of the senator’s financial disclosure.

  • If they held the shares they sold until March 31, they would have been valued at $86,000 less than what they sold them for.
  • The stocks they bought declined after they purchased them and resulted in losses of $102,000 through March 31.

Loeffler and her husband sold stocks in retail stores, such as Lululemon and T.J. Maxx, and invested a company that makes COVID-19 protective garments for medical workers, according to a review by the Atlanta Journal-Constitution.

Of note: Sprecher is the CEO of Intercontinental Exchange, which owns the New York Stock Exchange.

What they're saying: Loeffler has maintained that she did nothing wrong and that she and her husband do not have control over day-to-day trades, which are managed by third-party advisers.

  • “Sen. Loeffler came to Washington on a promise to be a different kind of elected official,” a spokesperson told the AJC.
  • “She holds herself to high standards of ethics and transparency, including acting in accordance with both the letter and spirit of the law, which she has done at every step of her time in the Senate and in her lengthy career in financial services.”

The big picture: Loeffler, who was appointed to her Senate seat by Georgia Gov. Brian Kemp after the retirement of Sen. Johnny Isakson, is running in a special election this year to keep her seat. Her Republican rival, Rep. Doug Collins, has used the appearance of impropriety from the stock trades to attack the senator.

  • “To have sold and then bought stocks that benefit them personally is just very, very frustrating,” Collins told Politico. "And it's very disheartening for those of us who have been in public service."
  • Several senators came under fire for making large stock trades while President Trump downplayed the severity of the outbreak. The SEC and the Justice Department are reportedly investigating at least one lawmaker's activities.

Go deeper: Senate Intel chair sold up to $1.6 million in stock before market crash

Go deeper

Chris Cuomo accuser: On-air "hypocrisy" spurred report

Journalist Chris Cuomo. Photo: Gilbert Carrasquillo/GC Images

A woman who accused fired CNN journalist Chris Cuomo of sexual misconduct said Sunday she decided to come forward after learning of his comments about women who made similar accusations about his brother.

Why it matters: Her attorney Debra Katz said in a statement that she heard "the hypocrisy" of his on-air words about his brother, former New York Gov. Andrew Cuomo, and was "disgusted by his efforts to try to discredit these women," so "retained counsel to report his serious sexual misconduct against her to CNN." Both brothers have denied allegations leveled against them.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: CDC director says number of U.S. Omicron cases "likely to rise" — Two years of COVID-19 — Prior coronavirus infections may not protect well against Omicron.
  2. Vaccines: Data demonstrates most-vaccinated counties less vulnerable to worst of COVID — Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate.
  4. World: Vaccine mandates lose steam in the U.S. while Europe doubles downWHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming.
  5. Variant tracker: Where different strains are spreading.

Vulnerable Democrats: Less Trump talk

Illustration: Aïda Amer/Axios

Vulnerable House Democrats are convinced they need to talk less about the man who helped them get elected: President Trump.

Why it matters: Democrats are privately concerned nationalizing the 2022 mid-terms with emotionally-charged issues — from Critical Race Theory to Donald Trump's role in the Jan. 6 insurrection — will hamstring their ability to sell the local benefits of President Biden's Build Back Better agenda.