President Trump Tests Positive for Coronavirus: Three Major Questions to Address
The year 2020 is one that will be remembered for being one of the most chaotic years in human history, and at 12:54 am this morning the following message was sent on Twitter by President Donald Trump.
This announcement comes on the heels of what can best be described as a tumultuous first Presidential debate on Wednesday night against Democratic candidate former Vice President Joe Biden. The White House announced that the President’s travel schedule has been put on hold for at least the next two weeks. Although the President is not the first world leader to receive a positive test for the Coronavirus, as Brazil’s President Jair Bolsonaro and British Prime Minister Boris Johnson had to quarantine as well, with both recovering, the timing of the news could not be at a worse time, with only 32 days until the general election. Immediately several questions come to mind upon the nation, and the world, woke up to the news on Friday morning.
What happens to the markets? As expected, the announcement immediately impacted the market, as U.S. equity futures as well as European stocks dropped. According to Bloomberg reports, Nasdaq 100 futures fell as low as 1.6% on Friday, while stocks were down 1.3% on France’s CAC40 as well as London’s FTSE100 dropped 1%. While recovery is expected in those areas due to the fluctuating consumer confidence, what may not recover is his chances at re-election. In an interview with Forbes, market strategist Yako Sera of Tokyo’s Sumitomo Mitsui Trust Bank stated that this creates an even bigger question. “This does damage Trump’s ability to campaign and time is running out before the election. Whether it’s Trump or Biden, the biggest problem is uncertainty. As long as we’re uncertain about who will win the election, it is difficult for markets to truly settle,” said Sera.
What happens to the debates? Last Wednesday’s debate in Cleveland was a black eye in the annals of debate history, and now it appears that Vice President Biden will have to be tested as well, given their proximity to one another. The other issue becomes whether or not there will be a second debate, which is scheduled for October 15th as a town hall. Also, could this have an impact on next week’s Vice Presidential debate between Vice President Mike Pence and California Senator Kamala Harris? According to New York Times’ White House reporters Maggie Haberman and Peter Baker, ““Even if Mr. Trump, 74, remains asymptomatic, he will have to withdraw from the campaign trail and stay isolated in the White House for an unknown period of time. If he becomes sick, it could raise questions about whether he should remain on the ballot at all.”
While no comment has been released regarding the future debates, one has to wonder if they will go on as scheduled, or will it be reduced to a virtual debate in the best interests of both candidates’ health risks.
How does the COVID-19 pandemic issue get addressed now? Since the pandemic hit the United States, the Trump administration has downplayed the seriousness of the virus, with the President even going to far as to mock Vice President Biden during the debates for wearing a mask. The White House has encouraged the states to re-open businesses and schools as much as possible during the past few months, but with the temperatures beginning to drop, the potential for even more cases has created a sense of uncertainty. Regardless of who occupies the Oval Office come the morning of November 4th, one thing is clear: the greatest threat to this country still remains the Coronavirus, and it obtaining an applicable vaccine has to be front and center above all else.