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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“The Wall Street Journal ran a typically untruthful story today by saying that Secretary of the Treasury, Scott Bessent, explained to me that firing Jerome “Too Late” Powell, the Worst Federal Reserve Chairman in History, would be bad for the Market. Nobody had to explain that to me. I know better than anybody what’s good for the Market, and what’s good for the U.S.A. If it weren’t for me, the Market wouldn’t be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don’t explain to me, I explain to them!”
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 Jerome Powell could lead to increased volatility in the stock market due to uncertainty about potential changes in Federal Reserve leadership. This may particularly impact financial stocks such as those in the Financial Select Sector SPDR Fund and Vanguard Financials ETF, as investors react to perceived instability in monetary policy. Additionally, News Corporation Class A shares might experience fluctuations due to its association with the Wall Street Journal, which Trump accused of spreading misinformation.
Here are some of the stocks that might be affected:
News Corporation Class A ((NWSA)),
Financial Select Sector SPDR Fund ((XLF)),
Vanguard Financials ETF ((VFH)).