Trump's coronavirus adds uncertainty in three ways, stocks have more room to fall
The October surprise is here – President Donald Trump and his wife Melania tested positive for COVID-19. The leader of the world's most powerful tested country announced the news on Twitter and was tested after his adviser Hope Hicks also contracted coronavirus. The bombshell news has sent stocks falling and the dollar higher – and for three good reasons, that could continue pushing it lower. Trump's Treasury Secretary Steven Mnuchin has been active in pursuing a fiscal stimulus deal with Speaker of the House Nancy Pelosi. However, other prominent Republicans such as White House Chief of Staff Mark Meadows and Senate Majority Leader Mitch McConnell have been skeptical about a large relief package. The president's leadership is critical in pushing a deal over the line and with the focus on the disease, it could remain stuck.
