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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Why does ABC Fake News keep Jimmy Kimmel, a man with NO TALENT and VERY POOR TELEVISION RATINGS, on the air? Why do the TV Syndicates put up with it? Also, totally biased coverage. Get the bum off the air!!!”
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 critical social media post about ABC and Jimmy Kimmel could potentially influence investor sentiment negatively towards companies associated with ABC, such as the Walt Disney Company, which owns ABC. This negative sentiment might extend to broader communication sector ETFs like the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, as they include holdings in media companies that could be perceived as being under scrutiny. However, the impact on News Corporation Class A may be limited as it is not directly associated with ABC or Disney, though general market volatility in the media sector could still affect its stock price.
Here are some of the stocks that might be affected:
News Corporation Class A ((NWSA)),
Walt Disney Company ((DIS)),
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)).