Week In Review: How Trump's Policies Moved Stocks -Saturday, Jan. 9

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Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly:

FACEBOOK BLOCKS TRUMP ACCOUNT

The U.S. Capitol descended into chaos and violence Wednesday as hundreds of pro-Trump rioters swarmed the building, leaving four people dead and forcing the Senate to evacuate and Vice President Mike Pence to be ushered to safety, as NBC News reported.

Following the events, Facebook (FB) CEO Mark Zuckerberg said in a post on the site that, "The "shocking events of the last 24 hours clearly demonstrate that President Donald Trump intends to use his remaining time in office to undermine the peaceful and lawful transition of power to his elected successor, Joe Biden. His decision to use his platform to condone rather than condemn the actions of his supporters at the Capitol building has rightly disturbed people in the US and around the world. We removed these statements yesterday because we judged that their effect -- and likely their intent -- would be to provoke further violence.

"Following the certification of the election results by Congress, the priority for the whole country must now be to ensure that the remaining 13 days and the days after inauguration pass peacefully and in accordance with established democratic norms. Over the last several years, we have allowed President Trump to use our platform consistent with our own rules, at times removing content or labeling his posts when they violate our policies. We did this because we believe that the public has a right to the broadest possible access to political speech, even controversial speech. But the current context is now fundamentally different, involving use of our platform to incite violent insurrection against a democratically elected government.

"We believe the risks of allowing the President to continue to use our service during this period are simply too great. Therefore, we are extending the block we have placed on his Facebook and Instagram accounts indefinitely and for at least the next two weeks until the peaceful transition of power is complete."

TWITTER REMOVES TRUMP TWEETS

Twitter Safety (TWTR) said on the evening of January 6 that "As a result of the unprecedented and ongoing violent situation in Washington, D.C., we have required the removal of three @realDonaldTrump Tweets that were posted earlier today for repeated and severe violations of our Civic Integrity policy. Future violations of the Twitter Rules, including our Civic Integrity or Violent Threats policies, will result in permanent suspension of the @realDonaldTrump account."

SHOPIFY TAKES SITES OFFLINE

Shopify (SHOP) has taken e-commerce websites run by the Trump campaign and Trump Organization offline following Wednesday's riot in Washington, D.C., according to The Wall Street Journal.

YOUTUBE PULLS TRUMP VIDEO

Alphabet's (GOOGL) YouTube has taken down a video from Donald Trump addressing a mob attack on the Capitol as the president has repeated false information about the outcome of the recent presidential election, The Verge's Julia Alexander reported. The video sharing service will allow the president's message to appear in other creators' videos if it comes with proper educational or news context, Alexander added. Twitter and Facebook have also removed the video.

CONGRESS CERTIFIES BIDEN WIN

Congress formally certified President-elect Joe Biden's Electoral College win hours after being hurried out with rioters inside the Capitol. In a statement released by the White House, outgoing President Trump said "while this represents the end of the greatest first term in presidential history, it's only the beginning of our fight to Make America Great Again!"

ALIPAY AND ALIBABA

Use of eight Chinese software applications, including Ant Group's Alipay, has been banned by President Trump's executive order, Reuters' Alexandra Alper reported on January 5. Alipay is owned by Alibaba (BABA) affiliate Ant Financial.

On Friday, the U.S. Treasury Department released an updated "Non-SDN Communist Chinese Military Companies List" as of January 8 and notable omissions from the list included Alibaba Group and Tencent (TCEHY). Media reports, including one from The Wall Street Journal on January 6, had indicated that officials at the State Department and Department of Defense were weighing prohibiting people in the U.S. from investing in Alibaba and Tencent.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

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