Trump’s COVID Diagnosis Hits Markets as Stock Futures and Oil Dip, Safe Havens Rise

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, NY, on March 9, 2020. Carlo Allegri/Reuters

President Donald Trump’s positive COVID-19 diagnosis was felt across global markets, triggering a relatively modest sell-off in U.S. stock futures, a sharper drop in oil and global equities, and driving interest in safe havens like U.S. Treasuries and gold.

“Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately,” Trump wrote in a message on social media shortly before 1 a.m. ET Friday. “We will get through this TOGETHER!”