LIVE: Jim Cramer on social media stocks, Bitcoin, Nine, stock market Monday

Let’s discuss what happened over the weekend before investigating what drives the markets.

Twitter (TWTR) – Get report followed in the footsteps of Facebook (FB) – Get report, Instagram, Snapchat (SNAP) – Get 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 bills could be used to incite more violence following a rally in Washington DC, where Trump continued to demand unproven issues of electoral fraud from the contestants. After the protest, a crowd stormed the Capitol, killing at least five people, including a Capitol police officer.

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

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

However, the move put pressure on social media shares as investors sold after the decision.

The riot at the Capitol led to calls from both Democrats and Republicans to call on Vice President Mike Pence for the 25th Amendment, where Cabinet and VP could remove President Trump from office.

If the amendment is not called for, House President Nancy Pelosi has threatened to accuse the president for the second time in his term in office. Pelosi told House Democrats on Sunday that an indictment could take place here this week, with only nine days left before President Biden’s inauguration.

And then there is Bitcoin.

Bitcoin’s two-day drop, with the cryptocurrency losing about $ 10,000 at its low, is the worst drop since March.

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

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