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Trump’s COVID impact on the stock market

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Trump announced on Twitter that he and first lady had tested positive for the coronavirus and they would begin the "isolation and recovery process.".

Trump announced on Twitter that he and first lady Melania Trump had tested positive for the coronavirus and they would immediately begin the “isolation and recovery process.” The White House canceled all of Mr. Trump’s previously scheduled public events, including a rally in Florida on Friday.

 

Severity of illness

White House officials said the Trumps were experiencing “minor symptoms.”The report said Mr. Trump was “emotional” and spoke with White House Chief of Staff Mark Medos on Friday morning.

White House Doctor said Trump and the first lady are “in good shape” and expect Trump to continue his presidential duties during his treatment and recovery. On September 30th and October 1st, Trump held fundraisers and campaign rallies in Minnesota and New Jersey, respectively.

Another presidential candidate

Democratic presidential candidate Joe Biden will tested for COVID on Friday. Trump and Biden hold their first presidential debate together in Cleveland, Ohio, on September 29. At present, it is not yet confirmed whether the next two presidential debates will be held as scheduled.

Trump  health status

Experts said Trump is in good health. The White House has the world’s top health care team and equipment to help him weather the health crisis but after all, Mr. Trump himself is 74 years old and obese, meaning he remains among the high-risk groups.

If Trump’s health deteriorates significantly, the section 4 of the 25th Amendment to the Constitution would be triggered. This would give the vice president broader powers until the president fully reinsoded.

Stock market reaction

U.S. stocks were lower Friday on news that Mr. Trump’s new crown had tested positive. Risk aversion also extended to other asset classes, with crude oil prices continuing Thursday’s sharp decline and falling more than 4 per cent in early trading on Friday. Safe-haven asset prices rose and Treasury yields fell.

Investors poured into safe assets such as bonds, which rose as the yield on the benchmark 10-year Treasury note fell to 0.6578 percent. Brent and WTI crude futures fell and quickly extended their losses to 3%. Two major indexes in Tokyo, Japan, also fell in trading, while FTSE China A50 futures also extended their losses to 2 per cent.

Market analysis

Analysts say news of the Trumps’ new crown pneumonia has created new uncertainty in the crude oil market.This has deepened concerns about the prospects for a second outbreak that could hit the economy and crude oil demand hard. The long-term impact of Trump’s diagnosis of new coronary pneumonia on the energy market needs to be carefully studied.

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Here’s what is known about Trump’s COVID-19 treatment

Prepared by: Lap Seng

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