Donald Trump speaks at the Hilton Midtown Hotel, July 16, 2016 in New York City.
President-elect Donald Trump's frequently unleashed Twitter rants could be a hazard for the markets, CNBC's Jim Cramer said on Tuesday.
"I'm telling you this is going to create lots of problems for the market," Cramer said on CNBC's "Squawk on the Street."
"Do you think that Trump could ... slow growth?" Cramer asked. "What if he says right now — he comes out and says — that Carrier plant, it's not going anywhere in Indiana."
In a cost-cutting measure, United Technologies CEO Greg Hayes said earlier this year that the company would move its Carrier unit to Mexico. The announcement, however, drew the attention of then-candidate Trump. During his campaign, he vowed to save thousands of jobs at the Carrier Plant.
Cramer suggested that companies' financial performance could be affected if they feel constrained from making the adjustments they want to make on the production side.
"Do people start thinking, you know what, you can't cut employees or move factories? And when you move a factory, (you) raise earnings per share," Cramer said.
Trump has continued to hit Twitter regularly, even since being elected. He said Tuesday that he doesn't think people should be allowed to burn the American flag — though the act is protected under the First Amendment.
Trump has also alleged repeatedly in recent tweets earlier that there were "millions" of fraudulent votes in the Nov. 8 election, despite there being no evidence to support that statement.
No comments:
Post a Comment