Dow Futures Slump After President Trump COVID-19 Positive

The Friday Market Minute

  • Global stocks slide, while Wall Street future slump, after President Donald Trump and First Lady Melania test positive for COVID-19.
  • Trump says he’ll begin immediate quarantine, putting election campaigning, the upcoming debates and the health of his colleagues in question.
  • Congressional lawmakers pass a $2.2 trillion coronavirus stimulus bill, largely down party lines, while Senate Republicans stick to their prescribed limits on spending.
  • Eurozone deflation deepens amid the broader economic malaise, with core consumer prices pegged at -0.4% for the month of September.
  • Oil extends slump as the dollar gains and questions over the pace of demand, amid rising U.S. inventories, continues to hit crude.
  • U.S. equity futures suggest a weaker open on Wall Street ahead of the September employment report at 8:30 am Eastern time.

U.S. equity futures slump lower Friday following news that President Donald Trump and First Lady Melania have both tested positive for the coronavirus, kicking markets into a tailspin ahead of key September jobs reports.

The President, who is 74 years old, Tweeted news of the positive test at around 1:00 am Eastern time Friday, and said the pair will immediately begin quarantine in the official residence of the White House. 

Reports suggest the infection may have come from his top adviser, Hope Hicks, who has also taken ill from the virus that has affected more than 7 million Americans and taken the lives of more than 200,000.

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