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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
““Too Late” should resign immediately!!! “Fed Chair Should Be Investigated by Congress, FHFA Head Says””
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 call for the resignation and investigation of the Federal Reserve Chair could lead to increased volatility in the financial markets, as uncertainty about the Fed’s leadership may impact investor confidence. This uncertainty could negatively affect major banks like Bank of America, JPMorgan Chase & Co., and Goldman Sachs Group, as well as financial ETFs such as the Financial Select Sector SPDR Fund, SPDR S&P Regional Banking ETF, and Vanguard Financials ETF, due to their exposure to interest rate fluctuations and regulatory changes. Investors might react by adjusting their portfolios, potentially leading to short-term declines in these stocks and ETFs.
Here are some of the stocks that might be affected:
Bank of America ((BAC)),
JPMorgan Chase & Co. ((JPM)),
Goldman Sachs Group ((GS)),
Financial Select Sector SPDR Fund ((XLF)),
SPDR S&P Regional Banking ETF ((KRE)),
Vanguard Financials ETF ((VFH)).