On October 1st, it became public that Donald Tump had tested positive for COVID-19. These tests results sent an immediate shock on the stock market and the financial sector. The S&P 500 went down 96 bps and the Dow Jones declined by 48 bps. This was most likely due to the uncertainty of his condition. Historically, a nation's leader can impact the stock market by words, actions, or falling ill. What do you think the long-lasting impacts will be if Trump has permanent ailments or even succumbs to this virus like 209 thousand other Americans?
https://www.nytimes.com/2020/10/02/business/trump-covid-stock-market.html
4 comments:
It seems very interesting that despite being so confident with COVID, the president now gets diagnosed. I say this especially due to the timing of it as the first debate had just taken place and that did is something which was not his best showings. Whatever the reason or circumstance, if a leader gets unwell with a disease as such, the country does face negative side effects which showed in the stock market. Uncertainty is rising with people still unemployed and this news definitely does not help. We should hope that he can recover soon and follow up with his campaign.
Trump testing positive really put the country in shock as you mentioned in your blog. I feel that a country does face some sort of negative effects when their leader falls ill in this case has the Coronavirus. it shows in the stock market that there has been some sort of a decline. If Trump does not think of the long lasting impacts it will be bad for the economy as well as the people of the counrty. we should hope that he pays close attention to everything and makes decisions not just to stabalize the economy for now but for when U.S. come out of this stage.
I agree that his diagnosis definitely did have an impact on the market. According to CNBC the dow fell 450 points as soon as the news broke. In an article I read by CNBC the author stated that his diagnosis affected the market because it drew investors attention back to COVID. I think it served as a reminder that we are still dealing with a pandemic and everyone is at risk.
Trump testing positive does impact the market and this leads me to ask the same questions as you Kofi. I hope that the President becomes healthy again but it does bring concerns to me as well as every other American. Especially so because if the President does succumb to this we would be left with Vice President Pence, and I think this will also have a huge impact on the market.
Post a Comment