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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Europe today “hit” another great American company, Google, with a $3.5 Billion Dollar fine, effectively taking money that would otherwise go to American Investments and Jobs. This is on top of the many other Fines and Taxes that have been issued against Google and other American Tech Companies, in particular. Very unfair, and the American Taxpayer will not stand for it! As I have said before, my Administration will NOT allow these discriminatory actions to stand. Apple, as an example, was forced to pay $17 Billion Dollars in a Fine that, in my opinion, should not have been charged — They should get their money back! We cannot let this happen to brilliant and unprecedented American Ingenuity and, if it does, I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies. Thank you for your attention to this matter! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA”
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 the shares of Apple Inc. (AAPL) and Alphabet Inc. Class A (GOOGL), as investors may fear potential trade tensions and retaliatory measures. The Invesco QQQ Trust (QQQ), Technology Select Sector SPDR Fund (XLK), and Vanguard Information Technology ETF (VGT) may also experience fluctuations due to their significant holdings in major American tech companies. Additionally, the iShares MSCI France ETF (EWQ) could be impacted by concerns over economic relations between the U.S. and Europe.
Here are some of the stocks that might be affected:
Apple Inc ((AAPL)),
Alphabet Inc. Class A ((GOOGL)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
Vanguard Information Technology ETF ((VGT)),
iShares MSCI France ETF ((EWQ)).