Tech Stocks Turn Red on Trump Selloff

tech stocks selloff trump ban jan 2021

Stocks are down today with tech stocks leading the charge as Twitter drops by 7.5% after it banned the still sitting president of the United States, Donald Trump. “Trump’s account had more than 88 million followers and had been retweeted billions of times. Trump has a very high and loyal following and a lot of those eyeballs will go away if Trump is permanently restricted from posting,” say researchers at TS Lombard. One problem may well be where to go as Parler is denied basic services like hosting while Gab remains under heavy load as they continue to increase their self-hosting capacity. Regardless Twitter may see lower activity not just from Trump supporters but crucially from independents who may be appalled at the utilization of political mass censorship in the United States. Almost all other tech stocks have fallen too, with Apple shedding 1.6% as the mobile duopoly is brought…

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