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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Gregg Jarrett: “In a blockbuster report, the CIA has belatedly exposed the rank corruption among top intelligence officials who connived to frame President Donald Trump and drive him from office during his first term….It was secretly financed by Hillary Clinton’s presidential campaign and Democrats, conceived by a foreign agent with a checkered past in espionage, and then brokered to solicitous collaborators at the FBI, CIA, the Department of Justice and the Trump-hating media…””
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 social media post alleging corruption involving intelligence officials and media outlets could lead to increased volatility in the stock prices of media companies such as The New York Times Company and News Corporation Class A, as investors react to potential reputational damage and legal implications. ETFs like Vanguard Communication Services ETF and Communication Services Select Sector SPDR Fund, which have holdings in these media companies, might experience fluctuations as well. Fox Corporation Class B could see a different impact, potentially benefiting from increased viewership and engagement if the narrative aligns with its audience’s views.
Here are some of the stocks that might be affected:
The New York Times Company ((NYT)),
News Corporation Class A ((NWSA)),
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)),
Fox Corporation Class B ((FOX)).