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The US stock market tumbled when a crown-infected president forced investors to take a position on an extraordinary situation with unforeseen implications.
Published:,
Stock markets are clearly affected by the uncertainty that has suddenly emerged after Donald Trump announced on Friday that he and the first lady tested positive for Covid-19.
The tech-heavy Nasdaq fell the most, down 2.22 percent, but the Dow Jones (-0.48) and the S&P 500 (-0.96) also fell sharply.
Large technology stocks were the ones that dragged the most to the stock market. Tesla fell more than 7 percent, while Amazon, Apple and Microsoft fell almost 3 percent.
Trump’s news on Friday has created heightened uncertainty causing investors to flee to safer ports, several analysts believe.
The stock market generally doesn’t handle uncertainty that well, and we’ve had more than our fair share today, says Kevin Giddis, Raymond James’ chief strategist Financial times.
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This happens if Trump gets too sick to govern America
– May have greater fluctuations
Economists had already announced high volatility in US markets in the weeks leading up to the November 3 election.
A crown-sick president doesn’t exactly talk about minor market fluctuations, says investment strategist Lindsey Bell at Ally Invest.
– There is no precedent if an incumbent presidential candidate is knocked out before the elections, he says.
“Given the lack of clarity on future procedures, market volatility is likely to persist, if not increase,” Bell told Marketwatch.
At the very least, Trump won’t be able to hold election campaign rallies for the foreseeable future, no matter how sick he gets.
The White House said Friday that the president currently has “mild symptoms.” At the same time, the president is 74 years old and moderately overweight, which are two risk factors.
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UiO teacher: – Trump can follow Bolsonaros
It is not easy for investors to know how to react, analysts say.
– This is an almost automatic reaction, in which people think ‘what do we do now?’, Esty Dwek, head of marketing strategy at Natixis Investment Managers tells FT.
There has been disagreement over whether the course of the disease will actually make Trump stronger or weaker, as the president saw it.
– Bolsonaro has often followed Trump’s script. Now Trump can follow Bolsonaros, writes Benedicte Bull, Latin American scientist at UiO on Twitter.
It comes at the same time with a prediction:
– Next episode: Trump shakes off the crown, reinforces the image of a strong man. Opinion polls soar …
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