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US100 pulls back as Trump threatens to target Big Tech

5:14 PM 29 July 2020

Donald Trump sent a tweet saying that in case Congress fails to "bring fairness to Big Tech", he will do it himself via Executive Orders. Executives of Big Tech companies are set to testify before the Congressional Antitrust Panel later today. Tweet caused an around 0.5% decline on the US100 index and caused some damage to overall sentiment. Traders should also keep in mind that tech companies Amazon, Alphabet, Facebook and Apple, will all report their earnings tomorrow after the session closes.

Trump threatens to target Big Tech with Executive Orders. Source: Twitter

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