US Stock Market Move | The Biden administration is considering allowing TikTok to continue operating in the United States. Snap (SNAP.US) fell more than 3%.

On Thursday, the stock prices of American social media companies dropped, with Snap (SNAP.US) falling by 3.17% and Meta Platforms (META.US) by 0.89%. On the news front, sources revealed that the Biden administration is considering how to allow TikTok to continue operating in the United States. A government official disclosed that officials are "exploring various options" to prevent TikTok from being banned this Sunday (January 19th). Earlier reports also suggested that President-elect Trump is considering issuing an executive order after taking office to temporarily suspend the TikTok ban for 60 to 90 days.