Twitter announced its decision on Friday night, citing concerns that the president’s accounts could be used to incite more violence following a rally in Washington DC, where Trump continued to argue with attendees about issues of unproven electoral fraud. After the rally, a mob stormed the Capitol, resulting in the deaths of at least five people, including a Capitol police officer. Live at 10:30 a.m. ET, Jim Cramer and Katherine Ross talk about actions on social media, bitcoin, President Trump and everything that moves the stock market on January 11: “After careful consideration of recent Tweets from the @realDonaldTrump account and the context around them, we have permanently suspended the account due to the risk of further incitement to violence,” Twitter said in a statement. The move has put pressure on social media stocks, however, as investors sell after the move.
The riot on Capitol Hill led Democrats and Republicans to call on Vice President Mike Pence to invoke the 25th Amendment, where the Cabinet and Vice President could remove President Trump from office.If the amendment is not invoked, House Speaker Nancy Pelosi has threatened to impeach the president for the second time in her single term. Pelosi told House Democrats on Sunday that an impeachment vote could take place this week, just nine days before President-elect Biden’s inauguration.
And then there is Bitcoin.
Bitcoin’s two-day drop, which saw the cryptocurrency drop around $ 10,000 to its lowest, is the worst drop since March.
Bitcoin on Friday hit $ 42,000 – a record high.Curious about what Jim Cramer and his Action Alerts PLUS team are watching in the markets? Watch Cramer’s exclusive Daily Rundown on Action Alerts PLUS after TheStreet Live.