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Twitter crashes on the stock market after suspending Trump's account

2021-01-12T00:02:15.716Z


The week starts in the red on Wall Street due to the uncertainty posed by the 'impeachment' Twitter logo on a monitor on the Wall Street floor by Richard Drew The New York Stock Exchange, which last week barely suffered from the violence in the Capitol or the bad unemployment data known on Friday, has started the week in the red, with notable falls in technology, leading all of them the almost seven points that this Monday has left Twitter. The social network, which on Friday permanentl


Twitter logo on a monitor on the Wall Street floor by Richard Drew

The New York Stock Exchange, which last week barely suffered from the violence in the Capitol or the bad unemployment data known on Friday, has started the week in the red, with notable falls in technology, leading all of them the almost seven points that this Monday has left Twitter.

The social network, which on Friday permanently suspended Donald Trump's personal account for fear that it instigates new episodes of violence, has plummeted 6.41%.

But it is not the only great technology that loses, despite the constant good results of the Big Five even in moments of uncertainty such as those that followed the elections, as the giants Apple, Alphabet Inc, the parent company of Google, and Amazon have lost almost 2%.

All this, in a context of reordering social networks to prevent the migration of Trump supporters to platforms such as Parler.

Amazon has cut off access to its servers for Parler, while Apple and Google have removed the app from their mobile platforms.

Parler has countered this Monday with a lawsuit against Amazon.

But the Wall Street hit has not been limited only to technology.

After last week's sustained record high, the Dow Jones, its main index, fell 0.29 points, while the Nasdaq technology lost 1.25% and the expanded S&P 500 index, 0.66% .

Few values ​​have had a positive day.

Even Tesla, the electric car maker, has dropped 7.82% after a week of spectacular increases that crowned its founder and CEO, Elon Musk, as the richest man in the world, ousting Jeff Bezos from the podium, responsible for Amazon.

On Friday, Tesla's market value reached $ 800 billion.

Many listed companies, including the JP Morgan bank, one of the few that posted a 1.49% rise on Monday, have reacted to the events of Wednesday, when a mob of Trumpists stormed the Capitol in Washington, announcing that they will cancel all their donations and political contributions, for example the funding of Republican legislators who opposed the confirmation of victory in the elections of President-elect Joe Biden, in the session interrupted by the assault on the Capitol.

The introduction this Monday by Congressional Democrats of a resolution to try Trump for incitement to violence has helped, according to analysts, to chill investors, fearful that the necessary stimulus package to recover the economy from the effects of the pandemic is delayed with the attempt to prosecute the Republican.

"When markets look to something as critical as the governance of the United States, the slightest uncertainty can have a significant impact," explained Brad McMillan, of the Commonwealth Financial Network, as quoted by Reuters.

Source: elparis

All business articles on 2021-01-12

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