Google and other FAANG stocks saw $58 billion wiped from their market caps after Trump slammed the 'immense power' of big tech

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

And the stocks are set to drop even more when the market opens on Wednesday. Trump called out big tech companies in a speech to the UN on Tuesday.

Trump's speech to the UN on Tuesday cost the world's biggest tech companies billions in value. The FAANGs lost a combined $58 billion in market cap. In his address, which also mentioned China trade tensions, Trump said that social media platforms are acquiring"immense power," adding that a free society"cannot allow social media giants to silence the voices of the people." Netflix was the biggest loser, dropping 4.4%, as the tech-heavy Nasdaq index fell 1.4%.

Trump's speech to the UN on Tuesday cost the world's biggest tech companies billions in value. The FAANGs lost a combined $58 billion in market cap. In his address, which also mentioned China trade tensions, Trump said that social media platforms are acquiring"immense power," adding that a free society"cannot allow social media giants to silence the voices of the people." Netflix was the biggest loser, dropping 4.4%, as the tech-heavy Nasdaq index fell 1.4%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Epic

Just ask Joe Bidens son to help them he got billions from Urkraine from daddy strong arming urkraine to fire people there lol Joe Biden is in HOT WATER imo Son also took billions and Joe millions WOW!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines