Week In Review: How Trump's Policies Moved Stocks - Saturday, June 20

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 REMOVES TRUMP ADS

Facebook (FB) said that it has taken down advertisements run by President Trump's re-election campaign for violating its policies on hate, CNN's Donie O'Sullivan reported earlier this week. The ads, which attacked what the campaign referred to as "Dangerous MOBS of far-left groups," featured an upside-down triangle that the Anti-Defamation League said "is practically identical to that used by the Nazi regime to classify political prisoners in concentration camps," O'Sullivan noted. "We removed these posts and ads for violating our policy against organized hate. Our policy prohibits using a banned hate group's symbol to identify political prisoners without the context that condemns or discusses the symbol," Andy Stone, a Facebook spokesperson, told CNN Business.

TWITTER PUTS WARNING ON TRUMP TWEET

 On Thursday night, President Trump shared a video on Twitter (TWTR) that appears to display a CNN screen heading that reads "terrified toddler runs from racist baby" along with a video of two children. After the president posted the tweet, Twitter added a "manipulated media" warning that states that "multiple journalists confirmed that the video, which was shared by President Trump, is edited and features a fake CNN cheyron. The original CNN story, which is from 2019, reported on a friendship between two toddlers."

INTERNET COMPANIES’ PROTECTIONS 

On June 17, the Department of Justice released a set of reform proposals to update what it called "the outdated immunity for online platforms" under Section 230 of the Communications Decency Act of 1996. "The first category of recommendations is aimed at incentivizing platforms to address the growing amount of illicit content online, while preserving the core of Section 230's immunity for defamation claims...A second category of proposed reforms is intended to clarify the text and revive the original purpose of the statute in order to promote free and open discourse online and encourage greater transparency between platforms and users...The third category of recommendations would increase the ability of the government to protect citizens from unlawful conduct, by making it clear that Section 230 does not apply to civil enforcement actions brought by the federal government. A fourth category of reform is to make clear that federal antitrust claims are not, and were never intended to be, covered by Section 230 immunity," the DOJ stated. The DOJ proposal follows President Trump's recent executive order seeking to weaken broad immunity enjoyed by Facebook, Twitter and Google (GOOGL).

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