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Stocks Slump After Trump Tests Positive
New York, USA | 2 October 2020

Stocks are falling early Friday, as Wall Street’s first reaction to President Donald Trump’s testing positive for the coronavirus was to retrench.

The S&P 500 was 0.9% lower after the first few minutes of trading, dropping with stocks around the world.

Analysts said some of the market’s movements could be explained by investors building up expectations for a Joe Biden victory of the White House, with Election Day a little more than a month away. That could mean higher tax rates and tighter regulations on companies, which would limit profits and hurt stock prices.

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