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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“I hope Univision, a great and very popular Hispanic Network, can get BACK onto the very amazing Google/YouTube. It has been taken out of their package, which is VERY BAD for Republicans in the upcoming Midterms. They were so good to me with their highest rated ever political Special, and I set a Republican Record in Hispanic voting. Google, for the purpose of FAIRNESS, please let Univision back! 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 influence investor sentiment regarding Alphabet Inc. Class A, as it highlights a perceived issue with Google’s platform that may affect political content distribution. This sentiment could extend to the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, as both funds have significant holdings in Alphabet, potentially causing fluctuations in their stock prices. Investors might react to the political implications of the statement, impacting the market performance of these tickers.
Here are some of the stocks that might be affected:
Alphabet Inc. Class A ((GOOGL)),
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)).