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It seems that Social media has now found its way fairly and squarely into the financial sector with a tweet from US president Donald Trump being enough to send Chinese share prices tumbling. Although no policy decision has been announced it seems that even one of Mr Trumps all too frequent outbursts is enough to spook the markets – surprised that the SEC hasn’t started censoring him.
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars….
— Donald J. Trump (@realDonaldTrump) May 5, 2019
The tweet helped send the Shanghai Composite Index down by around 5.6%
