US Stock Market Drops by 2.2%

President Donald Trump contracted COVID-19 on October 2nd, causing an international reaction & immediate drop in the US Stock Market. Donald Trump regularly denied that COVID-19 was a genuine viral infection and that wearing masks was pointless. After more than a million Americans had contracted coronavirus, President Trump began changing his mindset. Karma has implicated the President with the announcement of his coronavirus positive infection. However, POTUS Emergencies typically involve the stock markets & this scenario wasn’t any different. All three indexes were affected, falling between 1% to 2.2%.

The S&P 500, Dow Jones, and NASDAQ saw immediate drops but quick recoveries. The Dow Jones closed on October 2nd at 0.48%. That’s considerably better than early morning trades at 2.0% down from average valuations. It should be noted that the Dow Jones increased because airlines were provided government aid, ensuring airline stock wouldn’t continue dropping. Investors throughout America increased their investment onto airline stock, enabling the offset to 0.48%.

Airlines Offset Donald Trump’s Coronavirus Infection

Nancy Pelosi requested an “Airlines Aid Bill” weeks ago, receiving a regular rejection. Congress has altered their mindset & guaranteed imminent financial support for airlines operating in America. Guarantees were provided after 30+ thousand jobs were reportedly near furlough status. That’s been avoided with the government aid.

Nancy Pelosi stated that the stand-alone legislation created to achieve relief aid for airlines would extend six months. This means employed personnel under the “Payroll Support Program” will receive financial compensation for six months. It’s known that American Airlines & United Airlines are two corporations receiving immediate assistance.

Financial analysts governing over the United States Stock Market are shocked by the resilience seen on October 3rd. Analysts had predicted a minor collapse of the markets, with pandemic lows & POTUS’s death potentially looming. However, financial aid provided to airlines guaranteed that a core stock investment had been protected. It’s provided investors with confidence that the upcoming weeks will see job growth in America. That’ll depend ultimately on President Donald Trump permitting additional financial aid to American businesses, which is unlikely. Either way, Donald Trump contracting the COVID-19 virus could prompt a prolonged fallout on financial markets in America & London.