Week In Review: How Trump's Policies Moved Stocks - Saturday, May 30

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:

EXECUTIVE ORDER ON SOCIAL MEDIA

President Trump signed an executive order on social media companies after he threatened to shut down websites he accused of stifling conservative voices. The order, which said in part that "Twitter (TWTR), Facebook (FB), Instagram, and YouTube (GOOG; GOOGL) wield immense, if not unprecedented, power to shape the interpretation of public events; to censor, delete, or disappear information; and to control what people see or do not see," was signed after Twitter fact checked two of Trump's tweets about unsubstantiated claims of fraud in mail-in voting. The executive order, which will likely be challenged in court, marks the Trump administration's most aggressive effort to take action against social media companies, which he has criticized in the past.

TWITTER FACT-CHECKS TRUMP TWEETS

Twitter, for the first time, added fact-checking links to Trump's tweets this week after having put in place policies that many had said were conceived with the President specifically in mind. Trump claimed on Tuesday that mail-in ballots cast in California will be "substantially fraudulent" and result in a "Rigged Election." Twitter later added a link to each of Trump's tweets on Tuesday prompting users to "get the facts about mail-in ballots." Clicking on the link takes users to a Twitter "Moments" page which includes a section titled, "What you need to know."

Using the platform, President Trump also claimed on Tuesday that, "Twitter is now interfering in the 2020 Presidential Election. They are saying my statement on Mail-In Ballots, which will lead to massive corruption and fraud, is incorrect, based on fact-checking by Fake News CNN (T) and the Amazon (AMZN) Washington Post. Twitter is completely stifling FREE SPEECH, and I, as President, will not allow it to happen!"

Subsequent to labeling his earlier tweets, Twitter said this Trump tweet - "These THUGS are dishonoring the memory of George Floyd, and I won't let that happen. Just spoke to Governor Tim Walz and told him that the Military is with him all the way. Any difficulty and we will assume control but, when the looting starts, the shooting starts" - violated its policies regarding the glorification of violence "based on the historical context of the last line, its connection to violence, and the risk it could inspire similar actions today."

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