Twitter shares fell 11% after Trump’s account was blocked

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Shares of the social network Twitter fell in price by almost 11% at the opening of the first trading after the blocking of the account of U.S. President Donald Trump.

The company’s securities on the New York Stock Exchange fell 10.7 percent to $45.97. Twitter shares were losing more than 8 percent in pre-trade.

The American leader’s account was blocked permanently on January 8. The reason was the president’s alleged violation of the rules of the social network. In addition, Twitter expressed fears that Trump may try to provoke unrest.

On January 7, the U.S. Congress approved the election of Democrat Joe Biden as president of the United States. The day before, protesters stormed the Capitol and rioted during a congressional meeting at which election results were summarized.

There were clashes with police, in which dozens of people on both sides were injured. Five people were killed, including a police officer who was seriously injured. After the incident, Democrats called for Trump’s removal from power.

Earlier on January 11, German Chancellor Angela Merkel, as well as the head of the French Ministry of Economy and Finance Bruno Le Maire criticized the leadership of Twitter in connection with the blocking of Trump’s account.