NEW YORK — ” Financial markets have become so in thrall to President Donald Trump's tweets that J.P. Morgan has created an index to help identify how much volatility they're creating.
Trump has gotten more active on Twitter lately, averaging more than 20 tweets and retweets per day, up from five in early 2017. That means more opportunities for tweets that move markets, although only some of them actually do. The ones that have the biggest sway on the market focus on trade and the Federal Reserve, and J.P. Morgan says they often include the words"China," ''billion" and"great.
The tweet shocked markets, and fear climbed that the worsening trade war may knock the economy into another recession. Prices for everything from Treasurys to stocks to gold screeched into a U-turn immediately following the announcement.