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A few negative sentences from Donald Trump (77) are enough and Meta’s shares crash. The title of the parent company of Facebook, WhatsApp and Instagram collapsed on Monday. What exactly had happened?
The former and perhaps future US president talked about the social network Facebook in an interview with CNBC and had no positive words for it. According to Trump, banning Chinese rival TikTok will only strengthen Facebook. “You can grow Facebook without TikTok, and I think Facebook is the enemy of the people,” he said in the interview.
However, the first attempts to take action against TikTok also occurred during his time as President of the United States. In 2020, the Trump administration tried to remove TikTok from app stores in the US but was unsuccessful. Trump said Chinese social media continues to threaten national security. He also emphasized that Facebook has similar privacy and security issues.
Trump’s devastating conclusion: “I think Facebook has done a lot of damage to our country, especially when it comes to elections.”
Investors did not take kindly to the presidential candidate’s negative remarks. Shares of Mark Zuckerberg’s (39) group temporarily lost value by up to 5.48 percent. The meta title later improved somewhat. It’s currently down a good three percent. (moon)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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