Jessica Bush
Brian Gardner, chief Washington policy strategist at Stifel, on how President Trump’s positive Covid-19 test could impact the November election. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
U.S. President Donald Trump confirmed early Friday that he had tested positive for coronavirus, in an announcement that looks likely to spark volatility across global markets.
The president revealed on Twitter in the early hours that he and first lady Melania Trump had contracted Covid-19, just two hours after revealing that close aide Hope Hicks had tested positive.
Trump added: “We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”
Dow futures plunged more than 450 points on the news and were down by 355 points as of 3:10 a.m. ET, while stock markets in Asia backtracked sharply. European stocks now look set to fall at the open.
Jeff Henriksen, co-founder and CEO of Thorpe Abbotts Capital, said the news would thrust Covid-19 back into the spotlight for investors, upsetting the dueling narratives of Covid as a “slow disaster” versus the belief that the U.S. is emerging out of the crisis into a strong recovery.
“Those kind of narratives have been playing out over the last three months and you can see it in how some days you will see more growth-oriented companies — companies that are deemed to do well in any kind of world whatever happens to Covid — versus companies that need a recovery do well,” Henriksen told CNBC’s “Squawk Box Europe” Friday morning.
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