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Stocks sink after Trump announces positive coronavirus test

Stocks opened with steep losses Friday after President Trump

Donald John TrumpPresident Trump, Melania Trump test positive for COVID-19 Trump, first lady to quarantine after top aide tests positive for coronavirus Secret recordings show Melania Trump was frustrated about criticism of Trump 2018 border separation policy: CNN MORE announced that he and Melania TrumpMelania TrumpPresident Trump, Melania Trump test positive for COVID-19 Trump, first lady to quarantine after top aide tests positive for coronavirus Secret recordings show Melania Trump was frustrated about criticism of Trump 2018 border separation policy: CNN MORE tested positive for the coronavirus and the U.S. added fewer jobs in September than expected.

The Dow Jones Industrial Average opened Friday with a loss of roughly 400 points, falling 1.4 percent. The S&P 500 index fell 1.6 percent and the Nasdaq composite fell 2 percent.

Stock futures fell sharply overnight after Trump and the White House announced at 1 a.m. Friday that the president and first lady contracted the coronavirus. The Trumps’ positive test results came after news of top White House aide Hope Hicks

Hope Charlotte HicksPresident Trump, Melania Trump test positive for COVID-19 Trump, first lady to quarantine after top aide tests positive for coronavirus Trump aide Hope Hicks tests positive for COVID-19 MORE contracting the virus broke Thursday night.

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Presidential physician Sean Conley said in a memo released by the White House late Thursday night that President Trump and the first lady “are both well at this time, and they plan to remain at home within the White House during their convalescence.” 

A spokesman for Vice President Pence said both he and second lady Karen Pence

Karen Sue PencePresident Trump, Melania Trump test positive for COVID-19 The Hill’s 12:30 Report – Sponsored by The Air Line Pilots Association – Judge Amy Coney Barrett makes the rounds on Capitol Hill The Hill’s Morning Report – Sponsored by JobsOhio – Showdown: Trump-Biden debate likely to be nasty MORE tested negative this morning. A spokeswoman for Treasury Secretary Steven MnuchinSteven Terner MnuchinHouse approves .2T COVID-19 relief bill as White House talks stall If you could save a million lives, would you do it? Overnight Health Care: Six Republicans break with party on ObamaCare vote | Pfizer CEO ‘disappointed’ vaccine discussed ‘in political terms’ | Trump Supreme Court pick signed ‘right to life’ statement in 2006 MORE said he also tested negative for the coronavirus on Friday.

Investors are also processing a September jobs report that came in well below economists’ expectations. The U.S. added 661,000 jobs last month, according to the Labor Department, well below economists’ predictions of a gain of roughly 800,000 jobs.

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