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

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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%.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

Epic

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