🔻 Indices tumble as Trump tests positive

7:37 AM 2 October 2020

😷 Donald Trump tests positive for the COVID at the worst time. Will it cost him the win in November? Markets are concerned.

Indices started October on a positive footing, especially in the US where a mix od solid data and stimulus hopes were driving flows to equities. However the news of positive COVID test for Trump and his wife poured a bucket of cold water on market sentiment. This is a bad news for couple of reasons. First, it will show to some that pandemic could be a real threat. Second, it could seriously undermine chances of reelection for Trump (and markets are afraid of Biden win). Furthermore, there’s still no deal on stimulus and it looks increasingly likely that there will be nothing until the elections.

After a very strong Monday session DE30 has been down for 4 consecutive days. Bulls are trying to mitigate the early damage but for now the correction is not over.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits