Abstract
Previous research has evaluated the impact of social media on financial market performance. This research investigates the imposition of Trump's trade tariffs and sentiments of President Trump's trade tariff-related tweets on international equity using exchange-traded funds (ETFs). We document that tweets move international equity prices, affect their volatility, and draw market attention. In addition, the impact of Twitter - a social media outlet allowing users to curate information, update followers, and report news in real time to a wide audience - is a function of event randomness, tweets' novelty, and whether an 'influencer' uses this channel of communication to post relevant tweets.
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