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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Why is FoxNews and Peter Doocy putting on Democrat Senator Mark Kelly to talk about, totally unabated or challenged, Healthcare? The FAKE SPIN is so bad for Republicans that it is hard to believe that we WIN. It will be very unfair, in the future, when they don’t have “TRUMP” to fight for them. Therefore, we should fix it, NOW! I’m watching this Interview. It just doesn’t end. Fox should either get on board, or get off board, NOW, but at this point, it just doesn’t make any difference to me. They suck up the Ratings because of us, and then spin them in the Democrats’ direction. They refuse to put up Polls that correctly show me at 65% in Popularity, a Republican RECORD, but if I have a fake bad “Poll,” many of which are done by Fox (One of the worst “Pollsters” out there is the FoxNews Poll), they put them up immediately, and with gusto. Republicans are so tired of this fight with Fox always trying to be so “politically correct!” Thank you for your attention to this matter.”
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 criticism of Fox News could lead to a decrease in investor confidence in Fox Corporation’s stock (both Class A and Class B), potentially affecting its market value negatively. This sentiment may also impact broader communication sector ETFs like Vanguard Communication Services ETF and Communication Services Select Sector SPDR Fund, as Fox Corporation is a component of these funds. Investors might anticipate volatility in these stocks and ETFs due to perceived political bias and potential shifts in viewership and advertising revenue.
Here are some of the stocks that might be affected:
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)),
Fox Corporation Class A ((FOXA)),
Fox Corporation Class B ((FOX)).