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.
The United States is considering whether to strike Iran as turmoil intensifies for the country’s authoritarian regime.
The US has completed its first sale of Venezuelan oil since the US attached Venezuela and captured its president, Nicolás Maduro, earlier this month, according to an administration official.
President Donald Trump enacted a new 25% tariff on “certain advanced computing chips” on Wednesday, according to a White House fact sheet. That includes Nvidia’s H200 chip and AMD’s MI325X. However, chips imported to support building up the US technological supply chain would be exempt.
Verizon said some of its wireless services were down Wednesday, leaving many customers without access to voice and data services.
YouTube will now let parents limit the amount of time their teens can spend scrolling through its short-form video feature, Shorts, or block them all together.
Last month, Washington Post reporter Hannah Natanson penned a first-person piece about her long year as “the federal government whisperer,” receiving tips from hundreds of federal workers. On Wednesday, the FBI searched her home, a source familiar with the situation told CNN.
Price hikes picked up speed for US-based businesses toward the end of last year, a potential signal that inflation has yet to peak and prices could soon rise faster for consumers.
Trump is threatening to take “strong action” against Iran just after capturing the leader of Venezuela. His administration is criminally investigating the chair of the Federal Reserve and is taking a scorched-earth approach on affordability by threatening key profit drivers for banks and institutional investors.
Perhaps no data point better encapsulates the American economy right now than this nugget from Delta’s quarterly earnings:
China recorded the world’s biggest ever trade surplus in 2025, as well as a 20% jump from 2024, capping off a year in which the world’s largest manufacturer defied US trade pressure by ramping up exports to other global markets.
Saks Global, the parent company of luxury retailer Saks Fifth Avenue, filed for bankruptcy protection late Tuesday, according to court documents filed in US Bankruptcy Court in Houston, Texas.
China on Wednesday reported a strong export run in 2025 with a record surplus of nearly $1.2 trillion, as producers braced for three more years of a Trump administration set on slowing the production powerhouse by shifting US orders to other markets.
Microsoft says it will ask to pay higher electricity bills in areas where it’s building data centers, in an effort to prevent electricity prices for local residents from rising in those areas. The move is part of a broader plan to address rising prices and other concerns sparked by the tech industry’s massive buildout of artificial intelligence infrastructure across the United States.