Market takes a dive after Trump tests positive

Australia’s S&P/ASX 200 share index fell by 81.4 points, down 1.4% after it was announced in a tweet that POTUS Donald Trump tested positive for Covid-19. While the market initially was off to a good start, the market took a nose dive towards the end of day trading with panic among investors.

BHP was one of the worst affected, closing down 3.22% for the day while oil stocks also took a hit with Woodside Petroleum down 4.27%.

Popular biotech Mesoblast Ltd (MSB) finished the day down a devastating 37.20% after it was released FDA required further testing for approval.

Gainers and Losers

Some of the biggest gainers on Friday were:

• JHG +9.44%
• OTW +9.15%
• TWD +7.97%
• SKO +7.19%
• MEZ +5.91%

The biggest declines were:

• MSB -37.2%
• ASM -13.04%
• PAR -6.99%
• ADT -6.38%
• OZL -6.30%

Disclaimer:
This article does not take into account the investment objectives, financial situation or needs of a particular person or entity. Before acting on any investment strategy or advice you should first consult with your current ASIC accredited investment professional or seek out a compliant investment professional for such.