US stock futures plunged after Trump tweeted that both he and the first lady tested positive for the coronavirus, an extraordinary development that threatens to plunge his reelection campaign into disarray and raises questions over the leadership of the world's biggest economy. Global markets were also shocked by the news.
Dow futures were down by almost 370 points, or 1.3%, after falling more than 450 points just after Trump tweeted his condition. S&P 500 futures were down 1.3% and Nasdaq futures were down 1.6%.
The last US jobs report before the November election posts Friday morning. What it reveals could have ramifications both for the presidential race and stimulus talks, which on Thursday appeared to be at an impasse. As the President begins quarantine in the White House, investors have more questions than before. The VIX, which tracks expectations of US stock market volatility, jumped 8% Friday as traders digested the news.