Donald Trump sent the tweet heard ’round the defense industry Tuesday morning at exactly 35 seconds after 8:52 a.m. ET, blasting Boeing and suggesting he wanted to cancel the company’s contract for the new Air Force One aircraft.
One second went by. Then two. No reaction on Wall Street.
It wasn’t until a full ten seconds later that Boeing stock began trading down on the news in the pre-market hours, a dive that would shortly send Boeing’s stock price down by as much as one percent in early trading, before rallying back later in the day.
The 10-second delay, which was calculated by the analysis firm Nanex LLC, indicates that something rare was likely happening in global markets Tuesday morning: Human beings were seeing — and reacting to — news before computer trading programs could move on it. In an era of super-fast algorithmic trading in which delays are measured in milliseconds and less, the ten second gap indicates that possibly no one in global markets has yet figured out a way to incorporate Donald Trump’s tweets into their trading algorithms. If they had, the market response would likely have come much, much faster.