Stocks Sell Off Expected After Trump Tests Positive, Rush to Bitcoin?

The United States president has tested positive in the middle of the election in breaking news that immediately sent stocks futures down.

“Tonight, the First Lady and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”

The test results were received on Thursday evening with it unclear when the test itself was taken but President Donald Trump was seen in public on Thursday afternoon.

It is probable this has now spread throughout the executive government with analysts expecting stocks to fall.

“There will be another selloff,” Nirgunan Tiruchelvam, analyst at Tellimer, said. “People are going to go for gold and other safe assets.”

A correction of 10% is expected by some analysts according to Bloomberg with this being the biggest health threat to a sitting president in decades.

Trump is 74 and somewhat overweight, putting him in the vulnerable category. Boris Johnson, the British Prime Minister, had to be hospitalized when he caught it.

It’s not clear how long Trump has had this for, but if there is a second phase it should kick in within a week.

Treatment has now gotten better with Plasma generally recognized as effective, but the timing of this couldn’t be worse as the election is just weeks away.

Bitcoin has acted like gold in times of uncertainty, with it potentially benefiting from a rush to hard assets, but currently its price is unmoved with the Bitmex indictment seemingly affecting it more.