Donald Trump has wiped almost $1bn off the stock market value of Boeing - with a single tweet.

The president-elect has proven he can not only cause a bit of controversy with his social media posts, but can also affect capital markets.

Trump tweeted that Boeing's costs for the company's new Air Force One government plane were "out of control".

Trump urged the federal government on Tuesday to cancel the order with Boeing Co to develop a new Air Force One, saying costs were more than $4bn.

The White House said on Tuesday it does not know where President-elect Donald Trump got his figure of more than $4bn to replace the Air Force One plane that transports presidents, a spokesman said on Tuesday.

"Some of the statistics that have been cited, shall we say, don't appear to reflect the nature of the financial arrangement between Boeing and the Department of Defense," White House spokesman Josh Earnest told reporters.

Before the tweet, the company was trading at $152.16 per share.

After the tweet, the share price fell to $149.75 per share, according to Independent.co.uk.

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Update: Shares in the US airline giant have gone through a tumultuous time over the last seven days with the President-elect's tweet causing a near immediate impact on the stock price.

However, shares have since regained undoing the damage caused in part by Mr Trump.

A spokesperson for Boeing said: "We are currently under contract for $170m to help determine the capabilities of these complex military aircraft that serve the unique requirements of the president of the United States.

"We look forward to working with the US Air Force on subsequent phases of the programme, allowing us to deliver the best planes for the president at the best value for the American taxpayer."

Boeing's market capitalisation, which was significantly hit by the fall in share price, stands $93.96bn.

Additional reporting: Reuters

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