Toyota's stock wavers after Trump slams its plans to build a plant in Mexico

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.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up