Dow futures crash after Trump tests positive for coronavirus
Just hours after President Donald Trump tested positive for the coronavirus on Thursday night, the stock market appeared headed for a sharp drop early on Friday.
“Dow futures – which predict how the Dow Jones Industrial Average will move when the market opens for trading in the morning – fell 401 points, implying an opening decline of about 406. Similarly, futures connected to the Nasdaq and S&P 500 signaled sharp drops,” reported uSA Today.
The publication added: “It was not immediately clear why investors were jittery at the news, but it’s conventional wisdom in the markets that investors don’t like uncertainty. The Dow closed up 0.1% to 27,816.9 points on Thursday, so a drop of 406 points would equal a decline of 1.5%. To be sure, a temporary drop or increase in stock futures can also reverse directions quickly.”
President Trump tested positive for the coronavirus just days after one of his closest advisers who also had COVID-19 traveled with him aboard Air Force One.
Trump announced the diagnosis in a tweet on Friday morning.
“Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!,” Trump said in his tweet.
One of Trump’s closest aides Hope Hicks tested positive for the virus on Wednesday. She’s experiencing symptoms.
Hicks traveled with Trump four times this week alone, first to the debate in Cleveland, Ohio, on Tuesday, and then to a rally in Minnesota on Wednesday.
Sean Conley, physician to President Donald Trump released a statement on Friday morning after Mr. Trump and First Lady Melania Trump tested positive for the coronavirus.
He wrote: “I release the following information with the permission of President Donald J. Trump and First Lady Melania Trump.
“This evening I received confirmation that both President Trump and First Lady Melania Trump have tested positive for the SARS-CoV-2 virus.
“The President and First Lady are both well at this time, and they plan to remain at home within the White House during their convalescence.
“The White House medical team and I will maintain a vigilant watch, and I appreciate the support provided by some of our our country’s greatest medical professionals and institutions.
“Rest assured I expect the President to continue carrying out his duties without disruption while recovering, and I will keep you updated on any future developments.”
Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers President Joe Biden, Vice President Kamala Harris, the U.S. government, the United Nations, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. and New York City.
