Bitcoin, Stocks Fall as Trump Tests Positive for COVID-19

The cryptocurrency and Asian stock markets sold off early Friday after U.S. President Donald Trump announced he and his wife had tested positive to COVID-19.

  • In a tweet on Friday, Trump said he and First Lady Melania Trump had tested positive for COVID-19 and would begin their quarantine process “immediately.”
  • “We will get through this TOGETHER!,” Trump tweeted.
  • The Australia ASX All Ordinaries is down 1.35%.
  • In the U.S. markets, S&P 500 futures fell about 2%.
  • Gold is up 0.32% on the day to stand at $1908 after falling to a low of $1888 in early Asian trading hours.
  • Bitcoin is also down by 1.9%, having fallen from $10,678 to around $10,400, at press time.
  • The price action comes several hours after a 3.7% fall on news that U.S. officials indicted BitMEX owner Arthur Hayes and other company executives on charges the crypto trading platform violated know-your-customer and derivatives trading laws.
  • Trump will quarantine as he enters the final month of his reelection bid. His major-party opponent, Democratic nominee and former vice president Joe Biden, has been touring the midwestern states following a debate with Trump on Tuesday.

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