Shares of Twitter Inc tumbled over 6% on Monday after its move to permanently suspend U.S. President Donald Trump’s widely-followed account spurred concern among investors over the future regulation of social networks.
Twitter said on Friday its suspension of Trump’s account, which had 88 million followers, was due to the risk of further violence following the storming of the U.S. Capitol last week.
The move drew criticism from some Republicans for quelling the president’s right to free speech, while European Union Commissioner Thierry Breton said the past week’s events likely heralded a new era of heavier official control.
German Chancellor Angela Merkel, whose relations with Trump have been frosty, criticized Twitter’s ban and warned through a spokesman that legislators, not private companies, should decide on potential curbs to free expression.
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