Global Economy Negatively Impacted by News of President Trump

Another fallout from the news of President Trump’s diagnosis includes the economy, which took a downturn last night. Moments after the president’s tweet, the DOW fell by 500 points. DOW Futures are down 1.6%, NASDAQ by 2.3%, and the S&P 500 by 1.7%. U.S. crude is once again falling, this time by 4.3%. The price of gold was also affected. All this has sent a negative ripple effect through international markets, including Japan, Australia, and the UK. Fortunately, this news is nothing surprising as uncertainty has historically been a crippling factor for the economy. But it does not bode well for a world plunged into severe economic instability because of a pandemic. It’s unclear what other ramifications this news could have on the U.S., the U.S. election, and the globe but President Trump said he’s feeling optimistic at this time. He’s also not the first world leader to contract the virus. Canadian Prime Minister Justin Trudeau and his wife, as well as UK Prime Minister Boris Johnson all rebounded from positive tests, as did their countries.