Trump Slams Manhattan Congestion Pricing: Potential Ripples for NYC REITs, Ride-Hailing Stocks, and Sector ETFs

President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:

“Congestion Pricing in Manhattan is a DISASTER for New York. It’s got to be ended, IMMEDIATELY! It’s never worked before, and it will never work now. I love New York, and hate to see it being destroyed so rapidly with such obviously foolish “policy.” Thank you for your attention to this matter!

PRESIDENT DONALD J. TRUMP”

How Will Trump’s Statement Affect the Stock Market?

This latest post has the potential to affect the stock market. That’s because Trump’s forceful criticism of Manhattan congestion pricing could increase expectations that the policy will be rolled back or watered down, which may offer a short-term sentiment boost to NYC-focused office and property owners like SLG, VNO, and ESRT, and to broader real estate ETFs such as VNQ, IYR, and XLRE if investors see reduced risk to urban commercial activity. Conversely, a perceived weakening of environmental and urban-mobility policies could weigh modestly on sentiment for ride-hailing companies like UBER and LYFT if investors believe less congestion management will dampen demand for shared rides, though the effect is likely small and speculative. Consumer-focused ETFs like VCR and XLY could see limited direct impact, but any shift in expectations about New York City’s economic vitality—positive or negative—may marginally influence retail and leisure spending outlooks embedded in these funds.

Here are some of the stocks that might be affected:
SL Green Realty Corp ((SLG)),
Vornado Realty Trust ((VNO)),
Empire State Realty Trust Inc ((ESRT)),
Vanguard Consumer Discretionary ETF ((VCR)),
Vanguard Real Estate ETF ((VNQ)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)),
iShares U.S. Real Estate ETF ((IYR)),
Real Estate Select Sector SPDR Fund ((XLRE)),
Lyft Inc ((LYFT)),
Uber Technologies ((UBER)).