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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“In addition to my previously posted TRUTH concerning Google, please let this Statement serve to represent that Google has also paid, in the past, $13 Billion Dollars in false claims and charges for a total of $16.5 Billion Dollars. How crazy is that? The European Union must stop this practice against American Companies, IMMEDIATELY!”
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 Alphabet Inc. Class A shares due to potential investor concerns about regulatory risks and financial penalties. This sentiment might also impact broader technology-focused ETFs and funds like Invesco QQQ Trust, Technology Select Sector SPDR Fund, and Vanguard Information Technology ETF, which have significant holdings in Alphabet. Additionally, the iShares MSCI United Kingdom ETF could experience indirect effects if European regulatory actions influence market perceptions of U.S. tech companies.
Here are some of the stocks that might be affected:
Alphabet Inc. Class A ((GOOGL)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
Vanguard Information Technology ETF ((VGT)),
iShares MSCI United Kingdom ETF ((EWU)).