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Trump's tweets swing stock market amid trade deal uncertainty


Added 05-10-19 10:02:01am EST - “Stock futures spike and drop after President Donald Trump tweets there's "absolutely no need to rush" to reach a trade deal with China.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “Trump's tweets swing stock market amid trade deal uncertainty”. Below is an excerpt from the article.

Stock futures tumbled early on Friday after President Donald Trump unleashed a string of tweets suggesting the U.S.-China trade war will not be resolved soon. The early morning gyrations illustrate the market-moving power of the president's Twitter feed.

They're also a reminder of how presidential tweets can throw automated algorithmic trading programs for a loop.

In the tweet storm, Trump argued that tariffs on $200 billion in Chinese goods are bolstering the U.S. fortunes and laid out a scheme to purchase goods from American farmers and distribute them to poor nations. But one line seemed to catch the market's attention.

"Talks with China continue in a very congenial manner - there is absolutely no need to rush," Trump tweeted at 6:53 a.m. ET.

Futures slid further, and then stabilized after Trump briefly deleted and then reposted four of the five tweets. The missing tweet — the one in which Trump said there's "absolutely no need to rush" to reach a trade deal with China — eventually popped back up around 7:45 a.m. ET.

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