President Barack Obama expressed his concern with protecting an open Internet this week.
“I am asking for an explicit ban on paid prioritization,” Obama said in a statement. The news caused broadband providers such as Time Warner Cable Inc (NYSE: TWC) and Comcast Corporation (NASDAQ: CMCSA) to drop significantly.
The proposal would require there to be no blocking of websites, no slowing of Internet content and no deals that let companies pay for faster delivery of their content. The passing of legislation such as this would greatly affect the broadcasting and telecommunication industry, effectively turning them upside down.
Highlighted below are a number of ETFs that were affected by Obama’s announcement.
Consumer Discretionary Select Sector SPDR ETF
The Consumer Discretionary Select ...
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