Shares, oil prices sink after Trump tests positive for virus
Washington: US stock futures and Asian shares fell Friday after President Donald Trump said he and first lady Melania Trump had tested positive for the new coronavirus.
The future contracts for both the S&P 500 and the Dow industrials lost 1.9 per cent. Oil prices also slipped.
Trump tweeted news of his test results just hours after the White House announced that senior aide Hope Hicks had come down with the virus after travelling with the president several times this week.
To say this potentially could be a big deal is an understatement, Rabobank said in a commentary. Anyway, everything now takes a backseat to the latest incredible twist in this US election campaign.
Trading in Asia was thin, with markets in Shanghai and Hong Kong closed. The Nikkei 225 index shed strong early gains, losing 0.8 per cent to 22,999.75 after the Tokyo Stock Exchange resumed trading following an all day outage due to a technical failure.
Reports that the Japanese government is preparing new stimulus measures to help the economy recover from a prolonged downturn worsened by the coronavirus pandemic provided only a temporary lift. Prices fell further after Trump's announcement.
Australia's benchmark S&P/ASX 200 slipped 1 per cent to 5,815.90. Shares in Singapore, Thailand and Indonesia also fell.
On Thursday, the benchmark S&P 500 ended the day 0.5 per cent higher, at 3,380.80, the Dow Jones Industrial Average rose 0.1 per cent to 27,816.90 and the Nasdaq composite rose 1.4 per cent to 11,326.51, as big tech-oriented stocks propped up the market, much as they have through the pandemic.
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Karnataka Speaker Khader finishes fourth in Dirt Prix event
Mangaluru (PTI): Karnataka Legislative Assembly Speaker U T Khader on Sunday finished fourth in a dirt track racing event organised by the Indian Motor Sports Club here.
Driving a Volkswagen Polo GT, Khader narrowly missed a podium finish, ending just seconds behind the third-place finisher.
An avid motorsport enthusiast since his college days, Khader has participated in several racing events involving both motorcycles and cars.
Organisers said his performance on the dirt track was consistent with his previous racing record.
Speaking informally after the event, Khader said he continues to follow motorsport and enjoys driving, describing the experience as a "refreshing change" from his official responsibilities.
The Dirt Prix event saw participation from multiple racers and was aimed at promoting grassroots motorsport.
