Trumps tweets have wreaked havoc on financial markets
Some bright spark has decided that there’s money to be made on trading from Donald Trump’s tweets.
Algorithmic bot trading is where programs are designed to automatically read news headlines and stories, and configure trading opportunities from them. In this case a firm has designed a trading algo that scrutinises Trump’s tweets and trades from them.
Since Trump was voted in, he has tweeted about various US companies, in various sectors, and caused their share prices to tumble (Boeing and Airforce one). Lockheed, and the pharmaceutical sector are others. One of the biggest market moves, at the hands of Trump’s tweets and speeches, has been the Mexican Peso, which has been hit with all the wall talk.
The bot has been called the Trump & Dump bot and has been developed by T3. Now, before we all start screaming that Wall St bankers are manipulating markets for huge profits again, T3 will be donating all proceeds to the ASPCA.