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Global markets fall after Trump tests positive for coronavirus

News that President Trump had tested positive for the coronavirus sent shock waves through global markets early Friday morning as investors braced for an uncertain political landscape.

Futures tied to the Dow Jones industrial average fell by more than 400 points, or 1.6 percent, in the first hour after Trump disclosed his test results in a tweet. Nasdaq futures slid by 1.9 percent, and the S&P 500 saw a 1.56 percent drop. The declines indicate that the U.S. stock market is poised to open with a sharp drop on Friday morning.

Oil prices also fell by about 2 percent, compounding two weeks of decline that have been attributed to the lack of a new stimulus package, according to Reuters. Asian markets, including Japan’s Nikkei 225 and Australia’s S&P/ASX 200, also took a tumble.

European markets, including the FTSE 100 in the United Kingdom, DAX in Germany and CAC 40 in France, similarly appeared likely to open lower on Friday morning.

U.S. stock markets had wrapped up the third quarter on a high note on Wednesday, and showed gains Thursday as optimism built for a new round of stimulus talks.

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