Key Takeaways
- Social media platform X experienced a significant outage in the US, with user reports escalating to 16,497 by 10:59 AM ET on August 14, indicating widespread service disruptions.
- Former President Donald Trump issued new statements on US-China trade relations, asserting US strength in oil and gas over China's batteries and warning against damage to the US auto industry from Chinese EVs due to tariffs.
- Trump also commented on "woke colleges," indicating further "college settlements" are anticipated and claiming these institutions are "paying a big price."
- Newsquawk is actively promoting its financial news service, highlighting its reliability and uptime as a critical differentiator amidst potential market data disruptions.
Widespread Outage Hits Social Media Platform X
The social media platform X (formerly known as Twitter), owned by Elon Musk, is facing significant service disruptions across the United States. User reports on Downdetector.com rapidly escalated, with 8,249 users reporting problems by 10:56 AM ET, a figure that surged to 16,497 users just three minutes later, as of 10:59 AM ET on August 14. The reports indicate widespread issues, including difficulties in accessing the site or app, loading timelines, and posting content. While the exact cause of the current outage remains unclear, the platform has faced similar widespread disruptions in recent months, with Musk previously attributing some to "massive cyberattacks."
Trump Weighs In on China Trade and US Auto Industry
Former President Donald Trump has continued to voice strong opinions on US-China economic relations, emphasizing the strategic importance of American energy resources. He stated that "China has batteries, we have oil and gas," aligning with his administration's focus on bolstering the US fossil fuel industry. Trump also issued a stern warning to China regarding the US auto industry, asserting that "Chinese EVs aren't coming into US because of tariffs." This comes as the US has imposed significant tariffs on Chinese electric vehicle batteries, with current tariffs on Chinese EV batteries at 38.4 percent and set to increase further. These tariffs have already led to a notable shift, with US imports of Chinese EV batteries falling sharply by 58 percent in the first half of the year, while imports from South Korea have surged.
Trump Targets "Woke Colleges" Amid Settlement Talks
In domestic news, Donald Trump has reiterated his stance on higher education, claiming that "woke colleges are paying a big price" and indicating that the public should "wait till you hear about some more college settlements." This follows a series of high-profile agreements between the Trump administration and major universities. Recently, Harvard University is reportedly nearing a $500 million settlement to regain federal funding and end investigations. Similarly, Columbia University agreed to pay $220 million and Brown University settled for $50 million in recent months to resolve allegations and restore federal funding. The administration has been actively pushing for reforms at universities, often linking federal funding to compliance with its demands regarding issues like antisemitism and diversity, equity, and inclusion (DEI) initiatives.
Newsquawk Promotes Reliability Amidst Market Volatility
Amidst these developments, Newsquawk, a financial news service, is actively promoting its offerings, emphasizing its "reliable, round-the-clock service" and advising potential clients to "fear no outages." The company highlights its ability to provide real-time audio news headlines that impact the market, with analysts monitoring thousands of sources to filter and broadcast critical information. This pitch for consistent and timely information comes as service disruptions, such as the current outage impacting X, can significantly affect financial professionals who rely on uninterrupted news flow for trading and market analysis.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.