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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America. It will only get bigger, and the shock to them will be like nothing they have ever seen before — Until such time as they return to the United States of America all of the Oil, Land, and other Assets that they previously stole from us. The illegitimate Maduro Regime is using Oil from these stolen Oil Fields to finance themselves, Drug Terrorism, Human Trafficking, Murder, and Kidnapping. For the theft of our Assets, and many other reasons, including Terrorism, Drug Smuggling, and Human Trafficking, the Venezuelan Regime has been designated a FOREIGN TERRORIST ORGANIZATION. Therefore, today, I am ordering A TOTAL AND COMPLETE BLOCKADE OF ALL SANCTIONED OIL TANKERS going into, and out of, Venezuela. The Illegal Aliens and Criminals that the Maduro Regime has sent into the United States during the weak and inept Biden Administration, are being returned to Venezuela at a rapid pace. America will not allow Criminals, Terrorists, or other Countries, to rob, threaten, or harm our Nation and, likewise, will not allow a Hostile Regime to take our Oil, Land, or any other Assets, all of which must be returned to the United States, IMMEDIATELY. 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 regarding a blockade on Venezuelan oil could lead to increased volatility in the stock market, particularly affecting energy companies. Chevron and Exxon Mobil Corp. might experience fluctuations due to potential disruptions in oil supply and geopolitical tensions. Petroleo Brasileiro, Energy Select Sector SPDR Fund, and Vanguard Energy ETF could also be impacted as investors react to changes in oil prices and the broader energy sector’s stability.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Petroleo Brasileiro ((PBR)),
Energy Select Sector SPDR Fund ((XLE)),
Vanguard Energy ETF ((VDE)).