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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Governor Kathy Hochul of New York State is killing the entire region with Energy Prices that are OUT OF CONTROL, and expected to TRIPLE because she can’t get an Upstate and, separately, Long Island, PIPELINE built. All of Connecticut, including its Governor, and New England, are REALLY ANGRY AT HER. New York City is getting KILLED by her ridiculous CONGESTION PRICING, where people have to pay a fortune to come into Manhattan – So they just don’t come! The place is a ghost town. I am going to ask our Transportation Secretary, Sean Duffy, to take a good, long look at terminating New York City Congestion Pricing. The entire State is going to hell, so the Federal Government will, of necessity, get involved!”
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 New York’s energy and congestion pricing policies could lead to increased volatility in the stock market, particularly affecting energy and transportation sectors. Companies like Consolidated Edison, Inc. and National Grid may experience stock fluctuations due to concerns over energy infrastructure and pricing. Additionally, ETFs such as the Energy Select Sector SPDR Fund, Vanguard Energy ETF, and iShares US Transportation ETF might see changes in investor sentiment as federal intervention is suggested.
Here are some of the stocks that might be affected:
Consolidated Edison, Inc. ((ED)),
National Grid ((NGG)),
Sempra Energy ((SRE)),
Energy Select Sector SPDR Fund ((XLE)),
Vanguard Energy ETF ((VDE)),
iShares US Transportation ETF ((IYT)).