Stocks slide after Trump tests positive for coronavirus
U.S. stocks opened lower on Friday morning, following news early on Friday that President Trump and first lady Melania Trump tested positive for the coronavirus.
By the numbers: The S&P 500 fell 1%, the Dow Jones Industrial Average dropped 400 points (or 1.6%), while the Nasdaq Composite fell 1.5%. The declines
The big picture: Asian stocks were also fell — including in Japan, which closed down 0.8% after the announcement, despite spending much of the day trading up, per the New York Times.
- European stocks also opened over 1% lower in early trading.
What they're saying: "Markets hate uncertainty and this ticks all those boxes," said Asia Pacific with Oanda Corp. senior market analyst Jeffrey Halley, told Bloomberg.
- "Not because of the President alone, but because this potentially means it has spread to the upper-level echelons of the government in the U.S."