Trump has COVID-19 that suddenly turns the financial markets red. In addition, the crypto market has to deal with the news that BitMEX is being charged.
Trump tests positive for COVID
President Donald Trump tweeted to his followers this morning that he had tested positive for COVID-19.
The president had passed a test after Hope Hicks, a White House assistant, tested positive earlier in the day. Trump will now have to go into quarantine just weeks before one of the most crucial elections the country has ever had.
Within minutes of Trump's announcement, global markets collapsed. Dow Jones futures declined 1.2% and Nasdaq futures 1.6%.
The Japanese Nikkei stock market also lost 0.6% and the Australian ASX 200 lost 1.4%. In Europe, the FTSE 100 fell 1.1% at the opening, the German DAX fell 1.4% and the AEX fell 1.2%.
Investors were already disappointed after the $ 2.2 trillion stimulus package failed as negotiations between Democrats and Republicans stalled. Although the bill was pushed through the majority Democratic house, it is not expected to pass through the Senate with a Republican majority.
The bad news was compounded by a report that Americans' personal income fell more than expected in September, while several major companies, including Walt Disney, American Airlines and United, had cut tens of thousands of jobs.
The charge against BitMEX
The crypto market also turned red as 19 of the top 20 cryptocurrencies showed losses after the Commodity Futures Trading Commission (CFTC) filed suit against BitMEX and its founders for illegally running an unregistered trading platform.
BitMEX owns approximately $ 2 billion in Bitcoin, but customers have had to wait until later in the day to find out if the money has been frozen.
This news caused Bitcoin to lose about 4.15% of its value. Altcoins such as Chainlink, Ethereum and Polkadot also record losses of between 8% and 12%.
