{"id":2045,"date":"2020-10-02T20:56:33","date_gmt":"2020-10-02T20:56:33","guid":{"rendered":"https:\/\/businessner.com\/?p=2045"},"modified":"2022-03-24T22:09:03","modified_gmt":"2022-03-24T22:09:03","slug":"global-markets-rattled-after-president-trump-tests-positive-for-covid-19","status":"publish","type":"post","link":"https:\/\/businessner.com\/global-markets-rattled-after-president-trump-tests-positive-for-covid-19\/","title":{"rendered":"Global Markets Rattled After President Trump Tests Positive for COVID-19"},"content":{"rendered":"
Several stock markets around the world were rattled when news came out that US President Donald Trump tested positive for COVID-19.<\/p>\n
Feeling the immediate effects of the news were the \u00a0US Stock markets as they opened lower on Friday as markets went volatile when the news broke out.<\/p>\n
The Dow Jones fell 217 points, or 0.8%, to 27,599 in early trading to as high as 370 points at opening bell. The S&P 500 index also declined 0.7%, while the tech-heavy Nasdaq dropped 1%.<\/p>\n
Among the concerns raised by investors are on how the government will function if Trump\u2019s health condition worsens and if other close aides and senior government officials were also affected.<\/p>\n
To date, Trump is among the top leaders worldwide that tested positive for COVID-19. Other world leaders that tested positive for COVID-19 are UK Prime Minister Boris Johnson and Brazilian President Jair Bolsonaro.<\/p>\n
Market analysts also raised concerns about the conduct of the election and the presidential campaigns, the Wall Street Journal reported<\/a>.<\/p>\n With just one month left before the November election, stock markets in the U.S. have remained volatile with some traders selling stocks early and get into safe-haven assets.<\/p>\n However, in Friday\u2019s afternoon trading, stocks recovered after steep losses in the morning after Speaker Nancy Pelosi opened up about relief aid for the airline industry while expectations are high that a broader stimulus package is coming for Americans.<\/p>\n Tonight, @FLOTUS<\/a> and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!<\/p>\n \u2014 Donald J. Trump (@realDonaldTrump) October 2, 2020<\/a><\/p><\/blockquote>\n President Trump tweeted early Friday that he and First Lady Melania Trump turned positive in their COVID-19 tests.<\/p>\n \u201cTonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!\u201d Trump tweeted.<\/p>\n A few hours earlier than the announcement, Trump said Hope Hicks, one of his close aides and political advisor tested positive for COVID-19 forcing President Trump and his wife Melania to go into quarantine.<\/p>\n Meanwhile, not only the US stock markets felt the shockwaves of Trump\u2019s announcement as markets in Europe and Asia also dipped following the announcement.<\/p>\n Every major stock market index in Europe fell in early morning trading, but bounced back from some of their losses, with the FTSE 100 in London closing up by 0.4%, according to the Daily Guardian<\/a>.<\/p>\n Other European markets also reported a decline in stocks with France’s CAC 40 dropping 2% and Germany’s DAX with a 1.1% dip. In Asia, as other markets in Hong Kong and China remain closed, Japan’s Nikkei 225 (N225) ended the day down at 0.7%, while Australia’s S&P\/ASX 200 declined by 1.4%.<\/p>\n\n
\n