Home >Markets >Stock Markets >Dow futures plunge after Trump says he tested positive for coronavirus

US stock futures fell sharply today after President Donald Trump said he tested positive for the coronavirus. Futures linked to the Dow Jones Industrial Average plunged about 400 points. President Donald Trump and first lady Melania Trump have tested positive for the coronavirus, the president tweeted today. Futures for the tech-heavy Nasdaq fell 1.7%.

Trump's positive could cause a new wave of market volatility as investors brace for the hotly-contested presidential election in November.

Trump’s positive test comes just hours after the White House announced that senior aide Hope Hicks came down with the virus after traveling with the president several times this week.

"Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!" Trump tweeted.

Trump is not the only major world leader known to have contracted the virus. British Prime Minister Boris Johnson spent a week in the hospital, including three nights in intensive care, where he was given oxygen and watched around the clock by medical workers. German Chancellor Angela Merkel self-isolated after a doctor who gave her a vaccination tested positive for the virus, and Canadian Prime Minister Justin Trudeau worked from home after his wife fell ill.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.27% while Euro Stoxx 50 futures were up 0.06%, German DAX futures rose 0.03%, but FTSE futures were down by 1.02%.

Traders are also waiting for the Labor Department's report on non-farm payrolls and the jobless rate due later today. The dollar index jumped 0.3% on risk aversion.

Spot gold fell 0.55% to $1,894.60 an ounce, adding to its worst month since November 2016, while oil prices continued to fall, adding to a 10% September drop.

(With Agency Inputs)

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