Twitter's share price fell 1.8 percent on Thursday after the social platform temporarily banned President Donald Trump’s account for his posts.
In turn, Facebook shares rose by 2%, while Facebook and Instagram banned Trump's accounts indefinitely and for at least the next two weeks.
We believe the risks of allowing President Trump to continue to use our service during this period are simply too great, so we are extending the block we have placed on his Facebook and Instagram accounts indefinitely and for at least the next two weeks. pic.twitter.com/JkyGOTYB1Z— Facebook Newsroom (@fbnewsroom) January 7, 2021
Earlier, Twitter, Instagram, Facebook and Snapchat temporarily suspended Trump’s account. Twitter went so far as to threaten to permanently suspend the account if Trump violated the social media firm’s policy against inciting violence.
On Wednesday Donald Trump’s supporters broke into Congress to protest the verification of the Electoral College votes for Democrat Joe Biden, who defeated the Republican president in November’s election. The mob engaged with police in a stand-off that lasted several hours and left five people dead.
Donald Trump has 89 million followers on Twitter account.