On May 5, 2020, the Nasdaq 100 Futures fell by 0.8% and eventually leveled off at 0.4% after reports came out that Donald Trump is preparing an executive order that will threaten IT businesses, including Facebook, Twitter, and Google.
According to reports, the Trump EO will command a review of a controversial law that spares tech companies from liabilities brought about by comments, videos and posts of multimedia users in their web platforms. The existing law, known as Section 230, allows tech companies to police their own ranks without fear of lawsuits. Making the tech companies (like Facebook) liable for content posted by billions of users will have a tremendous effect in the way current business is being practiced. Simple speculation that Section 230 will be repealed was enough to make investors panic and withdraw their money.
Vicious social media posts, comments, and other contents heavily targeted Trump through the years. However, he also relies on social media to spread his gospel, which are oftentimes labeled by critics as misleading, if not downright false.
Trump played the game with his followers and critics but during the past few days, social media seemed to have started working against him. News about the Trump executive order came a couple of days after Twitter labeled one of the president’s tweets and linked viewers to news articles that fact-checked his claims.
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Nasdaq 100 Futures is a stock market index based off the Nasdaq 100 stock index. The Nasdaq 100 is composed of the shares of the 100 largest American and international companies in terms of market capitalization that do not come from the financial sector.
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Donald John Trump is the 45th and current president of the United States. Before entering politics, he was a businessperson, television personality, political theorist and political economist.
Born: 14 June 1946 (age 73 years), Jamaica Hospital Medical Center, New York, United States
Height: 1.9 m
Net worth: 2.1 billion USD (2020)
Party: Republican Party
Spouse: Melania Trump (m. 2005), Marla Maples (m. 1993–1999), Ivana Trump (m. 1977–1992)
Children: Ivanka Trump, Donald Trump Jr., Barron Trump, Tiffany Trump, Eric Trump
In his book, “Trump: The Art of the Deal”, Donald said, “good publicity is preferable to bad, but from a bottom-line perspective, bad publicity is sometimes better than no publicity at all. Controversy, in short, sells.”
It has been many years but I think, I remember him directly saying, “there’s no such thing as bad publicity!” It was a long time ago, and maybe, I’m wrong.
Sources:
-https://finance.yahoo.com/news/nasdaq-100-futures-drop-report-060049524.html
-https://www.washingtonpost.com/technology/2020/05/27/trump-twitter-executive-order/
-Image by Maret Hosemann from Pixabay
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