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U.S. equity futures plunged by more than 1.6%, or 500 Dow points after President Trump confirmed through a tweet that he and the first lady tested positive for coronavirus.
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At 2:30 AM eastern time, Dow futures have come off their lows, down 1.3%, or 360 points.
The S&P 500 is down 1.4%, or 46 points. The Nasdaq is declining by 1.7%, or more than 190 points.
The Dow Industrials had only been down 50 points before the announcement.
“Tonight, @FLOTUS and I tested positive for COVID-19,” the president wrote. “We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”
In Asia, Japan’s Nikkei ended the trading session down 0.8%, after returning from a day in which that market saw its trading day halted following a technical failure.
Markets in Hong Kong and China were closed for a second day due to holidays.
Ahead of the European open, futures are indicating a drop of 1% on London’s FTSE.
Gold is trading up $3.80, or 0.2% at $1,920.50.
In energy markets, U.S. crude is down 3%, or $1.23 at $37.48. Brent crude is also off 3%, or $1.25 at $39.67.
This is a developing story. Check back for updates.
