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Donald Trump’s social media stock is plunging after his rocky debate performance
CNN
Wall Street sure is acting like Donald Trump lost the debate Tuesday night.
Wall Street sure is acting like Donald Trump lost the debate Tuesday night. Investors swiftly penalized Trump’s social media business following the former president’s widely panned debate performance. Other so-called Trump trades, including bitcoin and Coinbase, went into reverse Wednesday, while bonds and Asian currencies rallied. And some funds that own solar and other clean energy stocks rose sharply. Shares of Trump Media & Technology Group plunged 10% in premarket trading Wednesday, leaving them on pace to open at the lowest level since the Truth Social owner went public in late March. The sharp selloff represents an immediate reaction to the ABC presidential debate, where Vice President Kamala Harris successfully threw Trump off his game. It’s the exact opposite of the reaction in Trump Media’s share price on June 28 after President Joe Biden’s disastrous performance in the CNN debate. Trump Media initially spiked 10% that day, before fizzling and ending in the red. Trump Media has at times become a way for traders to bet on the political fortunes of Trump and the chances he returns to the White House.
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Trump says DOGE could return 20% of its savings directly to taxpayers. That could reignite inflation
President Donald Trump said he is considering a plan that would give 20% of savings identified by Elon Musk’s Department of Government Efficiency (DOGE) back to Americans, potentially complicating the country’s ongoing battle with elevated inflation.
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President Donald Trump’s administration wants to roll back virtually all of former President Joe Biden’s policies. So it may come as a surprise that the Trump administration is keeping a key Biden framework designed to rein in Corporate America. federal regulators’ stricter guidelines around policing major corporate mergers.