Shares, Oil Prices Plunge After Trump, Wife Test Positive For Coronavirus

The COVID-19 status of United States Of America President, Donald Trump is already taking a serious toll on the world economy.

The CityNews Reports that Trump had announced in a tweet on Friday morning that he and his wife had contracted the virulent infection.

Trump announcement came hours after the White House disclosed that Hope Hicks, one of his aides, had come down with the virus after travelling with the president several times this week.

The effect of the stunning development on businesses and economy is instantaneously felt as oil prices tanked by 3 percent on Friday,

Brent crude slipped was down by  $1.12, or 2.7 percent, at $39.81 a barrel by 0710 GMT. U.S. oil was also down $1.12, or 2.9%, at $37.60. US and Brent crude are heading for drops of around 5 percent and 6 percent, respectively, this week for a second consecutive week of declines.

Also, US stock futures and Asian shares fell Friday. The future contracts for both the S&P 500 and the Dow industrials dropped nearly 2 percent but were trading 1.2 percent lower several hours later.