Can a single tweet make a country’s currency depreciate by 16%? Apparently it did on August 10, when Donald Trump tweeted that US tariffs on Turkish steel and aluminium would rise sharply.
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- The Conversation
Amid 36,100 retweets, and calls by Turkish President Recep Tayyip Erdoğan for his people to dump foreign assets, the Turkish lira plunged.
It’s not just the president of the United States that has such Twitter power.
Around the same time, Elon Musk’s infamous tweet about taking Tesla private raised shares in the motor company by 11% – later earning him a US$20m (£16m) fine from the…