The latest news confirms that the US President Donald Trump has tested positive for the new coronavirus. Due to that, the crypto and Asian stock markets sold off early on October 2. Melania Trump has also tested positive for the virus. The news brings more uncertainties to the already uncertain markets as the US Presidential elections come closer.
Trump said a tweet on Friday that he and First Lady Melania Trump had tested positive for COVID-19. Their quarantine process started immediately. Trump added:
“We will get through this TOGETHER!”
Markets responded to that news with the Australia ASX All Ordinaries losing 1.35%. In the United States markets, S&P 500 futures lost almost 2%. The haven markets are gaining some ground as investors seek ways to shield their portfolios from the imminent sell-offs. Gold has so far gained about 0.32% on the day to trade at $1,908 after it had dropped to a low of $1,888 in the early Asian trading hours.
Bitcoin also dropped by 1.9% having plunged from $10,678 to around $10,400, at the time of writing. This price action comes a few hours after a 3.7% drop on news that the US officials indicted BitMEX owner Arthur Hayes together with other company executives on various charges. They were charged for allegedly violating know-your-customer and derivatives trading laws.
President Trump will quarantine as he enters the last month of his reelection bid. The Democratic nominee and former vice president, Joe Biden, has been actively exploring the midwestern states following the Presidential Debate with Trump on Tuesday.