/US stocks retreat from record highs as fallout from Capitol riots continues

US stocks retreat from record highs as fallout from Capitol riots continues


Trump rose garden sad
President Donald Trump arrives to speak at an event on “protecting seniors with diabetes” in the Rose Garden White House, Tuesday, May 26, 2020, in Washington.

  • US stocks retreated from record highs on Monday as the fallout from last week’s Capitol riots continued.
  • On Friday, President Donald Trump was banned from Twitter permanently, and Congress is preparing to draw up articles of impeachment this week.
  • Watch major indexes update live here.

US stocks retreated from record highs on Monday as the fallout from last week’s Capitol riots continued.

President Donald Trump was permanently banned from Twitter on Friday, and is currently barred either temporarily or permanently from a mix of other social media platforms.

The consequences of the Capitol riots could extend to the early removal of Trump from the presidency, with Congress exploring both articles of impeachment and urging Vice President Mike Pence to invoke the 25th amendment to remove Trump this week.

Here’s where US indexes stood after the 9:30 a.m. ET open on Monday:

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Shares of Twitter fell as much as 10% on Monday following the social media company’s decision to permanently ban Trump.

Bitcoin staged a more than 10% correction over the weekend that spilled over into Monday, with the crypto asset falling to the $32,000 level.

Nio soared as much as 11% on Monday after the electric vehicle manufacturer unveiled its new ET7 sedan and said it struck a partnership with Nvidia to develop autonomous driving capabilities.

Oil prices fell. West Texas Intermediate crude dropped as much as 1.13%, to $51.65 per barrel. Brent crude, oil’s international benchmark, fell 1.48%, to $55.16 per barrel, at intraday lows.

Gold fell as much as 0.10%, to $1,835.50 per ounce.

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