Stock Market Winners & Losers: Markets Drop as Hopes Dim for Aggressive Fed | Trump Media Shares Plunge After Debate | Taylor Swift Uses Social Media to Endorse Harris
Stocks slipped as traders processed the latest consumer inflation report, with UnitedHealth Group, Goldman Sachs, and Amgen dragging the Dow lower. The report showed a slight uptick in core CPI at 2.5%, the lowest since February 2021. There’s now an 85% chance the Fed will approve a 25 basis point rate cut at its upcoming meeting.
Trump Media’s stock plunged over 17%, hitting its lowest level ever following Donald Trump’s poorly received debate performance. Trump’s stake, once valued at $6.2 billion in May, is now worth $1.8 billion. As of September 19, he may be free to sell his shares.
Meanwhile, Taylor Swift, with 283 million Instagram followers and massive influence on Spotify, endorsed Kamala Harris in a viral post. Swift, concerned about AI-generated fake content, emphasized transparency after an AI video falsely showed her endorsing Donald Trump. Her endorsement highlights the power of social media, especially among younger voters. Elon Musk’s bizarre response to Swift’s post sparked backlash, with users calling it "creepy" and "weird."
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