Global markets dropped early Friday morning after President Trump said that he had tested positive for COVID-19.
Stock futures suggested Wall Street would open lower as questions were raised about U.S. political leadership. U.S. stocks are likely to open on Friday between 1.5% to 2% lower than Thursday, according to the latest data.
Trump’s diagnosis will focus investors’ minds on the coronavirus pandemic once again.
The volatility and uncertainty in the markets suggest that investors are still trying to make sense of the news and how seriously to take it.
Some analysts say there is likely to be minimal disruption, assuming that Trump remains active.
“If Trump were to get it and is quarantined in the residence, but stays in charge of the government and is tweeting like crazy, I think there’d be de minimis market impact,” Ian Bremmer, the president of Eurasia Group, a geopolitical risk consulting firm, told Bloomberg a few months ago.
Trump cleared his schedule Friday after saying he would enter quarantine, except for one phone call.
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