US and European equities dropped on Friday after US President Donald Trump announced that he and First Lady Melania Trump had tested positive for coronavirus.
The Dow Jones Industrial Average was down more than 200 points in early trading, while S&P 500 futures and Nasdaq 100 futures were also in negative territory.
Meanwhile, the yield on the benchmark 10-year Treasury note fell to 0.6709 percent.
European markets opened more than one percent lower, clawing back some territory later in the day.
“Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this together,” Trump wrote on Twitter.
White House physician Dr. Sean Conley said in a memo, “The President and First Lady are both well at this time, and they plan to remain at home within the White House during their convalescence.”
He added that he expects Trump to “continue carrying out his duties without disruption while recovering.”
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