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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“One of the greatest, most professional, and most “confirming” News Conferences I have ever seen! The Fake News should fire everyone involved in this Witch Hunt, and apologize to our great warriors, and everyone else!”
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 the media as ‘Fake News’ and calling for terminations could lead to increased volatility in media-related stocks. The New York Times Company and News Corporation Class A might experience negative impacts due to perceived reputational risks and potential shifts in public sentiment. Conversely, ETFs like Vanguard Communication Services ETF and Communication Services Select Sector SPDR Fund, which are diversified across the sector, may experience less direct impact but could still see fluctuations based on broader market reactions.
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)).