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US stock futures: Dow Future tumbles after Trump tests positive for COVID-19

12:20 PM Oct 02, 2020 | FPJ Web Desk

On Friday, after US President Donald Trump tweeted that Melania Trump and he were tested positive for COVID-19, the US stock futures fell sharply. Dow Jones Industrial Average, S&P, and Nasdaq plunged by around 500 points, 60 and 240 points respectively.

Dow Jones Industrial Average, S&P, and Nasdaq fell by 1.87 per cent, 1.81 per cent and 2.08 per cent respectively.

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After reports surfaced that Trump’s advisor Hope Hicks was tested positive, the US stock futures were trading lower already. But as soon as the news of the President and his wife arrived the markets plunged.

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The US stock market has been trading in the green for over a week now after development on another round of stimulus came out.

On Thursday, the US equity futures jumped even though the dollar prices fell and oil prices slipped lower. This was mainly because investors are optimistic about a new multi-trillion stimulus package. Yet another reason for the US market doing well was mainly after there was a drop in unemployment numbers compared to last week.

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