The US stock markets rallied on Wednesday after Trump won the presidency, winning more than 300 electoral college votes. Dow Jones rallied hard and skyrocketed 1,508 points in the day’s trade, while Nasdaq surged 544 points.
In addition, the S&P 500 index spiked 146 points, and all major stocks traded in the green following the victory. However, only META stock remained red with little to no price action. It failed to ride the bull and was left out of the Trump-induced rally.
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JUST IN: 🇺🇸 Over $1.28 trillion added to the US stock market today. pic.twitter.com/RmgzcSdDTk
— Watcher.Guru (@WatcherGuru) November 6, 2024
While Microsoft, Amazon, Alphabet, and Apple traded in the green, META stock remained red throughout the day. So why is META stock falling? The answer is that investors are anxious about the relationship between Donald Trump and META head Mark Zuckerberg. Trump had early this year openly called Facebook “a true enemy of the (American) people.”
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META stock fell nearly 5% in March 2024 when Trump said against the Zuckerberg-led social media giant. It also fell another 1.2% a day later and began attracting bearish sentiments. The situation has been brought to the spotlight after Trump reclaimed the White House against his Democratic rival, Kamala Harris.
However, Zuckerberg extended the olive branch after Trump’s victory and wrote, “Congratulations to President Trump on a decisive victory.” He added, “We have great opportunities ahead of us as a country. I look forward to working with you and your administration.”
Also Read: US Stock Market: How it Responded to Donald Trump’s 2024 Election Win
Zuckerberg’s firm is now caught in the crosshairs as Trump considers several news outlets and social media firms enemies. Therefore, META stock failed to rally on Wednesday despite the US markets riding the Trump-induced bull run.
Optimism is back in the markets as the stock and cryptocurrency markets entered greener pastures after his win. A further rally is on the cards as close to $1.28 trillion entered the US stock market after the results.
