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President's tweet sends Nordstrom shares tumbling

February 08, 2017

NEW YORK (AP) — Nordstrom shares have taken a tumble after President Donald Trump tweeted that the department store chain had treated his daughter "so unfairly." The company announced last week it would stop selling Ivanka Trump's clothing and accessory line, saying that was based on the sales performance of the first daughter's brand.The president's tweet said: "My daughter Ivanka has been treated so unfairly by @Nordstrom. She is a great person — always pushing me to do the right thing! Terrible!" It was re-tweeted more than 4,000 times in less than 30 minutes.Shares in Seattle-based Nordstrom traded around $42.70 before the tweet, then fell to $42.48 afterward at around 10:50 a.m.Trump's tweets have in the past also affected shares in U.S. automakers, Boeing and Carrier.

AP

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