Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology. They also, outrageously, give a complete pass to China’s largest Tech Companies. This must end, and end NOW! With this TRUTH, I put all Countries with Digital Taxes, Legislation, Rules, or Regulations, on notice that unless these discriminatory actions are removed, I, as President of the United States, will impose substantial additional Tariffs on that Country’s Exports to the U.S.A., and institute Export restrictions on our Highly Protected Technology and Chips. America, and American Technology Companies, are neither the “piggy bank” nor the “doormat” of the World any longer. Show respect to America and our amazing Tech Companies or, consider the consequences! Thank you for your attention to this matter. DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement could lead to increased volatility in the stock market, particularly affecting American tech giants like Apple Inc, Alphabet Inc. Class A, and Microsoft due to potential trade tensions. Invesco QQQ Trust, Technology Select Sector SPDR Fund, and Vanguard Information Technology ETF might experience fluctuations as they are heavily weighted in tech stocks. Additionally, iShares MSCI China ETF could be impacted by potential export restrictions and tariffs, affecting Chinese tech companies.
Here are some of the stocks that might be affected:
Apple Inc ((AAPL)),
Alphabet Inc. Class A ((GOOGL)),
Microsoft ((MSFT)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
iShares MSCI China ETF ((MCHI)),
Vanguard Information Technology ETF ((VGT)).