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2020 doesn’t seem to be taking it easy on us! October hasn’t failed its expectations by kick starting with the news of the US president Donald Trump and First Lady tested positive for Covid-19. 

What really happened 

The couple underwent the coronavirus test after close aide Hope Hicks was tested positive on Wednesday (30th September, 2020). On Thursday evening, the couple retested for the virus and started with the quarantining process. This was followed by results  confirming covid-19 diagnosis for President Trump and The first Lady, later at midnight. Early Morning Friday, in President Donald Trump tweeted, “Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”

After math

With 7,278,385 recorded cases and 207,808 deaths, the US has been affected by the virus more than any other nation on earth. With only 32 days left for the U.S presidential elections to start off, it is very likely that Trump’s hectic election campaign will be brought to a standstill. So do the two left debates and entire republican campaign would face a huge halt. For instance, Trump will be unable to attend rallies in three key states – Wisconsin, Florida and Arizona – as well as the next presidential debate, which is scheduled for 15 October.

US President Donald Trump’s Covid-19 diagnosis poses a historic health threat for the country, especially as the November presidential election approaches, said CNN White House Correspondent Kaitlan Collins.

What do the doctors say

Trump’s  physician, Dr. Sean P. Conley, confirmed that the president and first lady would “remain at home within the White House during their convalescence”. How long this convalescence lasts will depend on how ill the pair get. Additionally he added that Trump’s  last physical was conducted in April, and “there were no findings of significance or changes to report.”

It’s not known if Trump has other medical conditions that could put him into a high-risk group. There is no evidence he has cancer, kidney disease, diabetes or other conditions known to put people at higher risk (CNN).

Financial Market

While the shares and US future stocks fall is it a good time to invest given the undervalued stocks? Investors decide.

Global Markets dropped after the couple tested positive for covid-19. Main highlights include-

  • Futures trading in Singapore pointed to a 2% fall in Chinese stocks. Futures for Wall Street’s S&P 500 fell by 2 per cent on Friday afternoon In Asia.
  •  Additionally, Australia S&P/ASX 200 shed 1.1 per cent. On the other hand NASDAQ futures dropped 2.3 per cent while those for London’s FTSE 100 fell 0.8 per cent.
  • Oil fell with Brent crude, the international benchmark down 2.1 per cent to $40.08 a barrel and US marker West Texas Intermediate down by the same degree to $37.93 a barrel.
  • In Currencies, the dollar strengthened, pushing pound sterling down 0.2 per cent to $1.2858 and the euro 0.3 per cent lower to $1.1711. Japan’s yen, another haven, strengthened 0.5 per cent against the dollar to ¥105.01 (Financial Times)

The market “can’t really work out yet whether this represents a bog risk-off moment, so its too soon to say how this will play”, a trader added(Financial Times).

Is there more to it

Under the presidential Succession Act, Vice President Mike Pence would step in if Trump Falls ill. If Pence was also unable to serve, the next in line for power of the presidency would then pass to House speaker Nancy Pelosi (The Guardian).

(President Trump and Mike Pence, at White House Rose Garden on Monday)

Reference List

https://edition.cnn.com/world/live-news/coronavirus-pandemic-10-02-20-intl/index.html

https://www.ft.com/content/a332559e-cd83-4669-b01f-77d8cf3fd1e1

https://www.ndtv.com/world-news/us-president-donald-trump-says-he-got-covid-19-test-after-close-advisor-tests-positive-2304140

https://www.ndtv.com/world-news/us-president-donald-trump-says-he-got-covid-19-test-after-close-advisor-tests-positive-2304140

Cover Image – https://edition.cnn.com/politics/live-news/trump-covid-19-updates-

 

Written by
Sarah Singh Undergraduate,
Bachelors in Computer Science
at Monash University, Malaysia.

 

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