LIVE: Jim Cramer on social media shares, Bitcoin, Nio, Monday on the stock exchange

Let’s break down what happened over the weekend before exploring what is driving 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, suspending President Donald Trump’s account permanently over the weekend.

Twitter announced its decision Friday afternoon, citing concerns that the president’s accounts could be used to incite more violence after a rally in Washington DC, where Trump continued to claim unproven electoral fraud issues from attendees. After the rally, a crowd stormed the Capitol, killing at least five people, including a Capitol police officer.

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

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

The measure, however, has put pressure on social media shares as investors come after the decision.

The riot at the Capitol has sparked a call by Democrats and Republicans for Vice President Mike Pence to call for the 25th Amendment, where the Cabinet and Vice President could remove President Trump from office.

If the amendment is not invoked, House Speaker Nancy Pelosi has threatened to accuse the president for the second time in her single government. On Sunday, Pelosi told House Democrats that an impeachment vote could be held this week, just nine days before the inauguration of President-elect Biden.

And then there’s Bitcoin.

Bitcoin’s two-day fall, which saw the cryptocurrency lose about $ 10,000 to its lows, is the worst drop since March.

Bitcoin on Friday hit $ 42,000, a record high.

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