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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Corrupt Letitia James is costing New York State Hundreds of Billions of Dollars in lost business. No company or individual wants to be there, knowing that she’s the “Attorney General.” She is a Complete and Total Disaster, who tried running against Kathy Hochul for Governor, and only got 1% of the Vote in Polls, and QUIT. She then went back to her WITCH HUNT against President Donald J. Trump, and others. Until this “SCUM” is removed from the Attorney General’s Office, no company will move to New York, and few companies will be using the New York Stock Exchange, or NASDAQ, for going Public. The new Texas Exchange will be taking ALL of this business away, and we’re talking Hundreds of Billions of Dollars!”
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 potentially influence investor sentiment, leading to volatility in stocks related to the New York Stock Exchange and Nasdaq OMX, as concerns about business migration to the Texas Exchange may arise. Intercontinental Exchange Inc. and Nasdaq OMX could experience fluctuations in their stock prices due to perceived risks of losing listings and trading volumes. Additionally, Financial Select Sector SPDR Fund and Vanguard Financials ETF might see changes in their performance, as these funds are influenced by the financial sector’s overall stability and growth prospects.
Here are some of the stocks that might be affected:
Intercontinental Exchange Inc. ((ICE)),
Nasdaq OMX ((NDAQ)),
Financial Select Sector SPDR Fund ((XLF)),
Vanguard Financials ETF ((VFH)).