80% of AG’s want warning labels on social media platforms

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why social media apps maybe come with a warning label.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.

00:05Disinflation is the buzzword for the day.

00:07That's when price gains are slowing instead of outright falling. Such is the case with the latest inflation numbers.

00:14Consumer prices rose just 0.2% in August according to the Labor Department,

00:19matching the prior month's gain. The CPI is up 2.5% from a year ago in the slowest annual gain in

00:26three and a half years. The Federal Reserve will take that into consideration when it meets in September.

00:34Turning now to other headlines,

00:35attorneys general from 42 states from both sides of the political aisle are

00:40banding together to demand a warning label for social media sites in order to protect kids. In a letter to Congress,

00:47the state officials wrote, quote, as state attorneys general,

00:51we sometimes disagree about important issues, but all of us share an abiding concern for the safety of the kids in our jurisdictions and

00:59algorithm-driven social media platforms threaten that safety.

01:04Specifically, the group pointed to what it referred to as a growing body of evidence

01:08linking social media addiction for young adults and a mental health crisis, quote, including depression,

01:15anxiety, and suicidal ideation.

01:17These state top cops are urging the federal government to step up after many of their states have done all they can to limit social

01:25media. The letter to Congress follows up a June New York Times op-ed from Surgeon General Vivek Murthy,

01:30who wasn't shy about comparing the harmful effects of using TikTok,

01:34Instagram, Facebook, Snapchat, and other apps to the harm done by smoking cigarettes.

01:41That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with The Street.

01:47You

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