Global markets plummet after Trump tests positive for COVID-19
First Published: 2nd October, 2020 19:10 IST
US stock futures plunged on Friday after President Donald Trump said that he and First Lady Melania Trump have tested positive for coronavirus. Dow futures were last down 450 points
US stock futures plunged on Friday after President Donald Trump said that he and First Lady Melania Trump have tested positive for coronavirus.
Dow futures were last down 450 points or 1.6 per cent. S&P 500 futures were down 1.6 per cent and Nasdaq futures were down 1.9 per cent, reports CNN.
“Tonight, @FLOTUS and I tested positive for Covid-19. We will begin our quarantine and recovery process immediately,” Trump tweeted shortly before 1 am eastern time on Friday. “We will get through this TOGETHER!”
Earlier, US stock futures trended lower as the fate of a massive US stimulus plan remained uncertain, and as news broke that top Trump aide Hope Hicks tested positive for the virus.
Trump said that he and his wife will be tested and start a quarantine process. Losses quickly accelerated after Trump said those tests were positive.
Stocks in Asia Pacific also slid on the news. Japan’s Nikkei quickly erased earlier gains and dropped 0.7 per cent. Australia’s S&P/ASX 200 was last down 1.5 per cent.
Other markets in the region including those in India, Hong Kong, mainland China and South Korea are closed for public holidays.
Oil futures also tumbled. US crude futures fell 3.6 per cent to 37.31 dollars per barrel while Brent, the world oil benchmark, lost 3.3 per cent to hit 39.59 dollars per barrel. Both hd settled lower on Thursday.
The Japanese yen, a traditional safe haven currency, surged against the greenback. It was last trading at about 105 yen per US dollar, up 0.5 per cent. (ANI)
COMMENTS
TOPMOST STORY NOW
Live Brother of BSF Jawan Deepak Chingakham Who Died in Cross-Border Firing by Pakistan in Jammu Appointed ASI in Manipur Police on Compassionate Grounds
11th July 2025
Live Maikhuli Villagers Protest MoU Over Assam-Meghalaya Border, Demand Return of Fishery
11th July 2025
Live Chhangur Baba Received Rs 500 Crore in Foreign Funds for Illegal Conversions: Anti-Terror Squad
11th July 2025
Live Taiwan Detects 9 Chinese Warships, 1 Aircraft Breaching ADIZ Amid Rising Tensions
11th July 2025
WE RECOMMEND
PM Modi makes cricket references in speech in Namibia Parliament, wishes success in co-hosting 2027 Cricket World Cup
PM Modi referred to cricket in the context of increasing bilateral trade
10th July 2025
Nifty, Sensex Gain Amid Ongoing US Election, Experts Noted Volatility to Continue
The election outcome may take some time, which could further increase volatility, so investors should be cautious with their investments.
06th November 2024
Tata Motors to roll-out ‘Untamed Kaziranga Edition’ of SUVs
Tata Motors is all set to roll out a range of SUVs as part of its special Kaziranga edition. It has released a teaser to its proposed ‘one-of-a-kind SUV Range’ – The Untamed Kaziranga Edition’, even changing the display picture of the Twitter Handle of Tata Motors Cars with a special Rhino badge. The auto […]
16th February 2022
AICC has no right to dictate terms to Meghalaya Congress MLAs: Ampareen Lyngdoh
The divide between the Meghalaya Congress and the All India Congress Committee is now out in the open. Meghalaya CLP leader Ampareen Lyngdoh on February 10th openly took a dig at the party high command. Briefing media, Ampareen Lyngdoh said that the AICC did nothing even after 12 Congress MLAs led by former Chief Minister […]
10th February 2022
Panama Papers : ED Questions Aishwarya Rai Bachchan on foreign exchange violations
The Enforcement Directorate (ED) has summoned actor Aishwarya Rai Bachchan in connection with the Panama papers. She appeared before the ED on Monday in association with the massive leak of financial files from the database of Mossack Fonseca four years ago. Rai had been summoned earlier for questioning, but she had twice sought more time. […]
20th December 2021