LIVE: Jim Cramer on Social Media Stocks, Bitcoin, Nio, Stock Market Monday

Let’s break down what happened over the weekend before entering what drives the markets.

Twitter (TWTR) – Get the report followed in the footsteps of Facebook (FB) – Get the report, Instagram, Snapchat (SNAP) – Get the report, and others by permanently suspending President Donald Trump’s account over the weekend.

Twitter announced its decision late Friday, citing concerns that the president’s accounts could be used to incite more violence following a rally in Washington DC, where Trump continued to complain to participants about unproven concerns about election fraud. Following the rally, a crowd stormed the Chapter, killing at least five people, including a Capitol police officer.

Live at 10:30 AM ET, Jim Cramer and Katherine Ross talk about shares on social media, bitcoin, President Trump and everything that moves the stock market January 11:

“After a careful analysis of the recent Tweets from the @realDonaldTrump account and the context around them, we have permanently suspended the account due to the risk of further incitement to violence,” Twitter said in a statement.

However, the measure put pressure on social media shares as investors sell following the decision.

The Capitol Revolt led to calls from both Democrats and Republicans for Vice President Mike Pence to invoke the 25th Amendment, in which the Cabinet and the Vice President could remove President Trump from office.

If the amendment is not invoked, the president of the Chamber, Nancy Pelosi, threatened to accuse the president for the second time in his single administration. On Sunday, Pelosi told the House of Democrats that an indictment could take place this week, just nine days before President-elect Biden was elected.

And then there’s Bitcoin.

The two-day decline in Bitcoin, which has seen the cryptocurrency lose about $ 10,000 to a minimum, is the worst decline since March.

Bitcoin reached $ 42,000 on Friday – a record.

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