US shares turn to losses as Trump criticizes Big Tech

Tuesday, 12. January 2021 18:08

Equities on major stock markets in the United States surrendered gains to trade in the negative territory on Tuesday with US tech giants sinking as President Donald Trump stated they are "doing a horrible thing" to the country after Twitter and Facebook opted to ban the president's accounts on their social network platforms.

On the business front, Boeing reported the worst net aircraft sales on record in 2020 as cancellation surged to a record high of 650 in the same year.

The Dow Jones lost 0.33% or over 100 index points at 12:13 pm ET with Merch & Co slipping over 2% at 12:05 pm ET. The Nasdaq 100 fell 0.84% as Fiserv declined by more than 4% at 12:19 pm ET, while the S&P 500 slid 0.53% concurrently with Boston Scientific Corp weakening over 4% at 12:04 pm ET, respectively. When it comes to Big Tech, Facebook went down by 2.30% at 12:24 pm ET, and Twitter dropped 2.66% at 12:09 pm ET. The euro edged up by 0.11% against the dollar to go for 1.21671 two minutes later.

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