You are here: Home » International » News » Others
Business Standard

Asian shares shed gains, oil sinks after Trump tests positive for virus

US stock futures and Asian shares fell Friday after President Donald Trump said he and first lady Melania Trump had tested positive for the new coronavirus.

Topics
Donald Trump | Asian markets | Crude Oil Price

AP/PTI  |  Washington 

share down
The future contracts for both the S&P 500 and the Dow industrials lost 1.9 per cent.

US stock futures and Asian shares fell Friday after President said he and first lady Melania Trump had tested positive for the new

The future contracts for both the S&P 500 and the Dow industrials lost 1.9 per cent.

Oil prices also slipped.

Trump tweeted news of his test results just hours after the White House announced that senior aide Hope Hicks had come down with the virus after travelling with the president several times this week.

To say this potentially could be a big deal is an understatement, Rabobank said in a commentary.

Anyway, everything now takes a backseat to the latest incredible twist in this US election campaign.

Trading in Asia was thin, with markets in Shanghai and Hong Kong closed. The Nikkei 225 index shed strong early gains, losing 0.8 per cent to 22,999.75 after the Tokyo Stock Exchange resumed trading following an all day outage due to a technical failure.

Reports that the Japanese government is preparing new stimulus measures to help the economy recover from a prolonged downturn worsened by the pandemic provided only a temporary lift. Prices fell further after Trump's announcement.

Australia's benchmark S&P/ASX 200 slipped 1 per cent to 5,815.90. Shares in Singapore, Thailand and Indonesia also fell.

On Thursday, the benchmark S&P 500 ended the day 0.5 per cent higher, at 3,380.80, the Dow Jones Industrial Average rose 0.1 per cent to 27,816.90 and the Nasdaq composite rose 1.4 per cent to 11,326.51, as big tech-oriented stocks propped up the market, much as they have through the pandemic.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, October 02 2020. 12:10 IST
RECOMMENDED FOR YOU
.