US stock markets slide after Donald Trump’s coronavirus diagnosis
- US stock markets tumble Friday on news that adds further uncertainty on top of pandemic, slow job growth and election
- ‘The president of the United States getting a positive [Covid-19] test is a scary headline that will add to volatility in the market,’ says analyst
The news that the president tested positive for Covid-19 drove earlier market moves, eclipsing the anticipated September jobs report due on Friday.
The S&P 500 and Dow Jones indices both partially recovered from the earlier sell-off. The S&P closed down 32 points, or 0.96 per cent, from an earlier drop of 1.25 per cent. Dow Jones dropped 134 points at close, after selling off more than 300 points soon after the market opened.
The Nasdaq extended the loss to close down 251 points, or 2.2 per cent.
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US President Donald Trump and first lady Melania Trump test positive for Covid-19
“The president of the United States getting a positive [Covid-19] test is a scary headline that will add to volatility in the market,” said Dan Ives at brokerage firm Wedbush in New York. “It’s adding more white knuckles to an already jittery market heading into the elections.”