U.S. stock futures slide after Trump tests positive for coronavirus

Illustration: Aïda Amer/Axios

U.S. stock futures plunged Friday morning, after it was announced President Trump and first lady Melania Trump tested positive for the coronavirus.

The big picture: The S&P 500 futures dropped 1.7% and futures tied to the Dow Jones Industrial Average and the Nasdaq-100 each shed almost 2%, "suggesting that U.S. markets could open lower," the Wall Street Journal notes.

  • Asian stocks were also fell — including in Japan, which closed down 0.8% after the announcement, despite spending much of the day trading up, per the New York Times.
  • European also opened over 1% lower in early trading.

What they're saying: "Markets hate uncertainty and this ticks all those boxes," said Asia Pacific with Oanda Corp. senior market analyst Jeffrey Halley, told Bloomberg.

  • "Not because of the President alone, but because this potentially means it has spread to the upper-level echelons of the government in the U.S."

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