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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Despite a very high popularity and, according to many, among the greatest 8 months in Presidential History, ABC & NBC FAKE NEWS, two of the worst and most biased networks in history, give me 97% BAD STORIES. IF THAT IS THE CASE, THEY ARE SIMPLY AN ARM OF THE DEMOCRAT PARTY AND SHOULD, ACCORDING TO MANY, HAVE THEIR LICENSES REVOKED BY THE FCC. I would be totally in favor of that because they are so biased and untruthful, an actual threat to our Democracy!!! MAGA”
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 statement could lead to increased volatility in the stock market, particularly affecting companies like Comcast Corp and Walt Disney Company, which own NBC and ABC respectively. Investors might react to potential regulatory threats against these networks, impacting the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, both of which hold significant positions in these companies. The uncertainty surrounding possible FCC actions could lead to fluctuations in stock prices as market participants assess the likelihood and impact of such regulatory measures.
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)).