Stocks collapse as Trump tests positive for Covid-19

October 02, 2020 10:30

Stock markets plunged in the Asia session as US President Donald Trump said he and his wife tested positive for Covid-19. The Dow Jones 30 stock market index futures contract collapsed more than 500 points, leading global stock markets lower.

President Trump made the announcement via Twitter regarding himself and the First Lady Melania Trump. This was shortly after Hope Hicks, one of his closest aides, fell ill with the virus. Trump's White House physician released a memo this morning stating the president will continue to carry out his duties without disruption.

Global investors not only dumped stocks but also fled to safe-haven asset classes such as gold and the Japanese Yen which both surged higher in Asia markets and have continued in the European session. Markets are likely to be sensitive going into the weekend but also with the much anticipated US Non-Farm Payroll report at 1.30 pm BST.

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How to trade the Dow Jones 30 with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of the Dow Jones 30 stock market index, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in Dow Jones, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

Source: Admiral Markets MetaTrader 5 Web, DJI30, Weekly - Data range: April 20, 2014, to October 2, 2020, performed on October 2, 2020, at 7:09 am BST. Please note: Past performance is not a eliable indicator of future results.

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