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Bitcoin, Stocks Fall as Trump Tests Positive for COVID-19
The cryptocurrency and Asian stock markets dumped early Friday after U.S. Pres. Donald Trump announced he and his wife had tested positive to COVID-19.
The cryptocurrency and Asian stock markets sold off early Friday after U.S. Pres. Donald Trump announced he and his wife had tested positive to COVID-19.
STORY CONTINUES BELOW
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- In a tweet on Friday, Trump said he and First Lady Melania Trump had tested positive for COVID-19 and would begin their quarantine process "immediately."
- "We will get through this TOGETHER!," Trump tweeted.
- The Australia ASX All Ordinaries is down 1.35%.
- In the U.S. markets, S&P 500 futures fell about 2%.
- Gold is up 0.32% on the day to stand at $1,908 after falling to a low of $1,888 in early Asian trading hours.
- Bitcoin is also down by 1.9%, having fallen from $10,678 to around $10,400, at press time.
- The price action comes several hours after a 3.7% fall on news that U.S. officials indicted BitMEX owner Arthur Hayes and other company executives on charges the crypto trading platform violated know-your-customer and derivatives trading laws.
- Trump will quarantine as he enters the final month of his reelection bid. His major-party opponent, Democratic nominee and former Vice President Joe Biden, has been touring the midwestern states following a debate with Trump on Tuesday.
See also: Election 2020 Prediction Markets: Bettors Say Trump Lost Tuesday's Debate
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. When he's not reporting on digital assets and policy, he can be found admiring Amtrak or building LEGO trains. He owns < $50 in BTC and < $20 in ETH. He was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
