Merck stock opened higher after the CEO of the pharmaceutical company resigned from the President’s manufacturing council over Trump not taking a strong stand against violence and extremism.
Merck CEO Kenneth Frazier said, “America’s leaders must honor our fundamental values by clearly rejecting expressions of hatred, bigotry and group supremacy.”
Trump immediately went off on a Twitter tantrum that was intended to hurt Merck’s stock price.
Here is how Merck stock opened:
#Merck & biotech stocks open fractionally higher across the board after $MRK CEO steps down from President's Advisory Council, Trump tweet pic.twitter.com/c2vMiwEkNN
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— Rebecca Jarvis (@RebeccaJarvis) August 14, 2017
Merck’s opening gain was in line with how the whole market opened, so there was no damage done by Trump’s tweet.
The myth that a Trump tweet attack can kill a stock price has been dealt another blow. Trump is so weak and ineffectual that his tweets don’t bother Wall Street anymore. Businesses have nothing to fear from Trump’s Twitter account.
The country is starting to treat Trump like an unimportant crackpot who social media rants are to mostly be not taken seriously unless those rants are directed at a foreign country with its own unstable leader who is developing nuclear weapons.
A president who took office as the weakest in modern history is losing the only little bit of power he had. Trump is no longer scaring anyone on Twitter.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
