Facebook Oversight Board Upholds Trump Ban, The Morning After the Tech Sell-off, Secretary Yellen Backtracks on Rate Hike Comments, Equinox SPAC Talks, and the CEO of UBS on the Archegos Fallout
Carl Quintanilla, Jim Cramer and David Faber led off the show with breaking news: Facebook's Oversight Board has ruled to uphold the social media network's decision to ban former President Donald Trump from the site. But the board also ruled it was not appropriate for Facebook to impose an indefinite suspension, adding the company must review the matter within six months. The anchors explored the ramifications of the ruling, including what it means for the social media landscape and Facebook's stock. Also in focus: What's next for tech stocks after Tuesday's sell-off, Treasury Secretary Yellen backtracking her remarks about hiking interest rates, JPMorgan Chase CEO Jamie Dimon slams Bitcoin, sources telling David that Equinox is in talks to go public via a SPAC backed by venture capitalist Chamath Palihapitiya, plus earnings winners and losers. UBS CEO Ralph Hamers appeared on the program in his first U.S. television interview since taking the top job at the Swiss bank. He discussed his company's loss related to the Archegos hedge fund scandal, as well as his growth strategy for UBS.
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