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By Tom Arnold and Elizabeth Howcroft
LONDON (Reuters) – Wall Street on the brink of a sharp fall Friday, when U. S. President Donald Trump and his wife tested positive for coronavirus just four weeks before the U. S. election to send investors to safer gold, treasury spending and yen.
Major European stock markets fell by 0. 5%, after recovering some of their steepest morning falls, futures markets had losses of 1. 5% to 2% for the S
Trump said on Twitter that he and his wife had tested positive for coronavirus: “We will begin our quarantine and recovery process,” he said in a nighttime tweet, adding that one of his most sensitive aides had also contracted the virus.
The global stock index MSCI, which tracks the shares of 49 countries, fell by 0. 2%, but is still on track for a 2% increase in the week, which will be in more than a month.
Markets will have more news to digest with monthly knowledge about jobs in the US. But it’s not the first time Expected at 12:30 GMT, however, Trump’s exposure can cause a new wave of market volatility if it seems to disrupt the presidential election in some way, which are only 33 days away. .
The duration of the aversion movements will depend on the extent of the infection at the White House, said Francois Savary, lead investment director of Prime Partners, a Swiss asset manager.
“We would probably have to wait until the end of the week to get more clarity on the situation,” he said.
“This will weigh on the market early next week, but it won’t lead to a lasting correction if the infection is contained in Trump,” he added.
The United States never delayed the programming of a presidential election, not even the Civil War or the Great Depression, and moved it only twice for administrative reasons, or in the first 60 years of the country’s founding.
With regard to the shocks of the inventory market, the assassination of President John F. Kennedy on November 22, 1963 saw the S
News from the White House also triggered a rise in the dollar and the Japanese yen Safe Harbor, which experienced its biggest jump in more than a month, reaching 104. 95 at 0553 GMT.
Compared to foreign exchange ins, the dollar index rose 0. 1% on the day from 93,807 to 1051 GMT.
The Australian dollar, which serves as a liquid proxy for dicy assets, fell by 0. 5%, regional tensions made the Russian ruble the most affected, with a drop of 1. 5%.
Germany’s 10-year benchmark bond fell by about 2 basic issues to -0. 543%.
Oil fell and Brent dropped four to $39. 29 a barrel at 1053 GMT, which extended losses as the European consultation progressed.
Gold rose 0. 2% to $1908. 63 an ounce, after playing a maximum of 10 days in the previous session.
BETS OFF
“Depending on how this scenario evolves over the weekend, especially if more senior U. S. government executives are positively diagnosed, gold may be put in position for a prolonged uptick,” said Jeffrey Halley, senior market position analyst at OANDA.
With the election scenario now in a state of confusion, the online betting site Betfair suspended the final voting results of 3 November.
Even before Trump’s infection was announced, markets were more underarish after Washington failed to reach agreement on a fiscal stimulus package to help the U. S. economy recover from the effect of the coronavirus.
The latest set of monthly unemployment data in the US is expected to be the largest in the world. But it’s not the first time Before the election, show that 850,000 new jobs were created in September, up from 1371,000 last month. .
(Information through Tom Arnold and Elizabeth Howcroft; additional information through Rachel Armstrong; Edited through Larry King and Tomasz Janowski)