With the typing of a single tweet, President-elect Donald Trump on Thursday tipped the scales of yet another company's stocks, when he tweeted his disapproval of Toyota's plan to build a new plant in Baja, Mexico:
A less than 0.50 percent drop is not exactly a jump off the precipice, and Toyota's stocks quickly stabilized to be down just 0.39 percent. But this is not the first time Trump's Twitter page has dictated major market activity: The president-elect's tweets about Lockheed Martin, Boeing, and General Motors have previously sent the respective companies' stocks tumbling, even if only temporarily. Trump's tweeted remarks have also inspired companies to change their plans, with both Carrier and Ford deciding not to move forward with building plants in Mexico.
Toyota announced its plans to build a plant in Mexico in April 2015, Reuters reported. The automaker did not immediately respond to Trump's tweet.
Article continues belowThe Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.