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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“If this would also allow the Radical Left Networks to “enlarge,” I would not be happy. ABC & NBC, in particular, are a disaster – A VIRTUAL ARM OF THE DEMOCRAT PARTY. They should be viewed as an illegal campaign to the Radical Left. NO EXPANSION OF THE FAKE NEWS NETWORKS. If anything, make them SMALLER! President DJT”
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 could potentially lead to increased volatility in the stock market for companies like Comcast Corp and Walt Disney Company, as both are major players in the media industry and could be perceived as part of the ‘Fake News Networks’ he criticizes. This sentiment may also impact the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, which include these companies in their portfolios, possibly leading to fluctuations in their stock prices. Investors might react to Trump’s statements by reassessing their positions in these stocks, anticipating regulatory or market pressures that could arise from such political rhetoric.
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)).