⁍ Global equity markets slumped and investors moved into safer gold and the Japanese yen on Friday.


⁍ Trump’s bombshell announcement sparked a risk-off mood among investors already concerned about an elusive fiscal stimulus package.


⁍ The knee-jerk reactions subsided as markets assessed what Trump’s diagnosis meant for the election and economy.


– President Trump says he’s recovering from a respiratory illness—but it’s not clear how serious it is or whether he’ll be able to campaign in the coming days. Trump said Thursday that he and first lady Melania Trump have tested positive for the virus known as Coronavirus, though it’s not clear how serious it is or whether the first couple will be able to travel in the next few days. “While the president is recovering from this illness, he will continue to work from the White House,” Trump said in a statement, per the AP. He said the illness was not life-threatening and he will have a “full recovery.” Melania Trump was hospitalized Thursday with a fever and other symptoms. “This is a serious illness and we will have more information as it develops,” the White House said in a statement. “The first lady wants to be very clear that this is a respiratory illness, not a political illness. The president is recovering and the White House will have more information as it develops.” Markets around the world, including the Dow, S&P 500, and Nasdaq, plunged in the wake of the news, though they have since stabilized. Reuters reports that the “knee-jerk reactions subsided as markets assessed what Trump’s diagnosis meant for the election and economy, given Democratic challenger Joe Biden’s hefty lead in the polls. The S&P 500 recovered some of the steep losses seen in futures overnight, and was last off 0.8%. US Treasuries climbed as steadying stocks sapped investor appetite for safe-haven government debt.



Source: https://www.reuters.com/article/health-coronavirus-trump-markets-int/instant-view-trump-tests-positive-for-covid-19-world-stocks-fall-idUSKBN26N0J0