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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Why is it that ABC and NBC FAKE NEWS, two of the absolute worst and most biased networks anywhere in the World, aren’t paying Millions of Dollars a year in LICENSE FEES. They should lose their Licenses for their unfair coverage of Republicans and/or Conservatives, but at a minimum, they should pay up BIG for having the privilege of using the most valuable airwaves anywhere at anytime!!! Crooked “journalism” should not be rewarded, it should be terminated!!!”
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 criticizing ABC and NBC for alleged biased reporting could lead to increased volatility in the stock prices of Comcast Corp (NBC’s parent company) and Walt Disney Company (ABC’s parent company) due to potential regulatory scrutiny or public backlash. This sentiment may also impact the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, as both funds hold significant positions in these companies, potentially affecting their overall performance. Investors may react to the perceived risk of increased costs or regulatory actions against these media companies, influencing market behavior.
Here are some of the stocks that might be affected:
Comcast Corp ((CMCSA)),
Walt Disney Company ((DIS)),
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)).