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Meta stock sinks after Trump calls Facebook the enemy of the people

New York

Facebook once again finds itself in the crosshairs of former President Donald Trump. And that’s making some traders on Wall Street nervous.

Meta Platforms (META), the owner of Facebook and one of the stars of the recent market rally, fell about 4% on Monday after Trump called into CNBC and labeled Facebook “an enemy of the people.”

Meta shares also retreated 1.2% on Friday following a post by Trump on Truth Social where the former president blasted Facebook as “a true Enemy of the People!”

Meta’s market valuation has dropped by more than $60 billion since Trump’s attacks began Thursday evening.

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