Shares of Twitter drop following permanent ban on Trump’s account

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Shares of Twitter fell 6% on Monday, following an announcement by the microblogger late last week that it has permanently suspended the account of President Donald Trump. “After close review of recent Tweets from the @realDonaldTrump account and the context around them – specifically how they are being received and interpreted on and off Twitter – we have permanently suspended the account due to the risk of further incitement of violence,” Twitter said in a blog post Friday. The ban followed Wednesday’s events, when Trump spoke at a rally of supporters, who later stormed the Capitol as Congress was voting to confirm the results of the election. Five people have died as a result of the riots. Facebook banned Trump on Thursday. Trump attempted to use the @POTUS Twitter account, but the company removed his tweets. The accounts of former national security adviser Michael Flynn and Trump lawyer Sidney Powell also received a permanent ban from Twitter. Shares of Twitter fell 3.7% in late trading on Friday after the announcement. Monday’s move comes amid a general lower tone for equities, with Nasdaq-100 futures down 0.5% and S&P 500 futures off 0.6%.
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