
Data: Financial Modeling Prep. Chart: Erin Davis/Axios Visuals
"Wall Street is adjusting to a new reality where a single well-timed post from President Trump can drive stocks and oil prices, Axios' Emily Peck and Erin Davis write.
Goldman Sachs CEO David Solomon joked yesterday that a big change in economic outlook is "only one tweet away."
Two occasions over the past month when Trump's posts on the Iran war appeared to drive stocks sharply higher (charted above):
On March 23, some two hours before the U.S. market opened, Trump posted that the U.S. and Iran had "very good and productive conversations regarding a complete and total resolution of hostilities."
On April 17, stock prices were falling, but minutes before the market opened, Trump posted: "The Strait of Hormuz is completely open and ready for business and full passage, but the naval blockade will remain in full force and effect."
It happened again yesterday when Trump posted he would extend the ceasefire as stocks slumped over worries that the U.S. and Iran would not negotiate a resolution."
Axios
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