Trump's COVID-19 announcement triggered an immediate sell-off in stock futures

Right after President Trump tweeted that he and first lady Melania Trump have tested positive for COVID-19, there was an immediate sell off in stock futures, ABC News reports.

Rebecca Jarvis, the network's chief business and economics correspondent, said "as it stands right now, the Dow is pointing down more than 500 points, meaning if the market were to open at this time, the stock market would be down more than 500 points." That is about 2 percent, Jarvis said, which in a percentage basis is "not a gigantic amount, but there is the immediacy to the news itself."

Jarvis also noted that in a few hours, the jobs report for September, the final one released before November's election, will come out, giving Americans a look at "the country's economic picture," and the news about Trump's health "also comes at a critical time for the country's economic health."

More stories from theweek.com
Trump headed for Walter Reed Medical Center after coronavirus diagnosis
Chris Wallace says Trump family actually didn't get tested before debate
Trump aides reportedly think he'll 'face a harsh judgment from voters' after COVID-19 diagnosis