Dow Futures Plunge as President Trump’s COVID-19 Treatment Progresses

UTC by Benjamin Godfrey · 3 min read
Dow Futures Plunge as President Trump’s COVID-19 Treatment Progresses
Photo: Depositphotos

Some doctors who are not in Trump’s medical team believe that the President’s health conditions might be worse than it is being stated.

Since President Donald Trump came down with the coronavirus disease, the market has had different reactions with the Dow Futures surging in overnight trading. As reported by CNBC, the Dow Futures rose by over 160 points with the S&P 500 as well as the Nasdaq 100 futures also climbing with points.

The President’s health status which refused to stir a damning impact on Wall Street as most companies traded in the positive territories on Friday has spiked a negative reaction today. The Dow Jones Industrial Average lost 134.09 points to erode the 35 point gain recorded on Friday. Similarly, the S&P 500 dropped 32.36 points and pegged at 3,348.44 while the Nasdaq Composite (INDEXNASDAQ: .IXIC) dropped 251.49 points (2.22%) to hit 11,075.02.

It was reported that President Trump called on Congress to expedite processes to make the coronavirus stimulus available to Americans. House Speaker Nancy Pelosi told the press on Friday saying “we continue to work on the text to move quickly to facilitate an agreement.” With a stimulus package purportedly on the horizon, companies are balancing for a possible boosted spend during the coming holidays.

While the top tech firms including Alphabet Inc (NASDAQ: GOOGL), Tesla Inc (NASDAQ: TSLA), and Microsoft Corporation (NASDAQ: MSFT) amongst others lost 2.17%, 7.38%, and 2.95% respectively, retail outfits including the Home Deport Inc (NYSE: HD) closed 0.61% higher on Friday.

Dow Futures High But How Is Trump Really Faring?

Despite the positive news on the Dow Futures, doctors who are not in the President’s medical team believe that the President’s health conditions might be worse than is being stated. While President Trump has been moved to the Walter Reed National Military Medical Center outside Washington since Friday, the President has made some showings to allay the fears of Americans and show that he is getting better.

First, the President released a minute-long video saying that “we are getting great reports from the doctors,” while also acknowledging that he’s learned a lot about COVID-19. Trump also had a short motorcade parade to wave his supporters, but behind these showings, Bloomberg reports that the treatment he’s being given is likely doing more harm than good.

With the President being treated with different compounds including Regeneron Pharmaceuticals Inc (NASDAQ: REGN) antibody cocktail as well as Gilead Sciences Inc (NASDAQ: GILD) Remdesivir, experts warn that taking extra efforts to treat the president with an unproven mix may not be as effective as expected.

The notion that some of these treatments considered as extra care are only available for the select few may also send the wrong message to Americans.

“It’s scientifically not a sound approach and it sends a message to the American people that if you are a V.I.P. there is something you can get that the rest of us can’t,” said Jeremy Faust, an emergency medicine doctor at Brigham & Women’s Hospital in Boston and editor of Brief19, a daily roundup of news on SARS-CoV-2. “We don’t give that medication to the average person not because we don’t care about them. It’s because we don’t know if it will help or not.”

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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