Dow futures dropped Friday after U.S. President Donald Trump and first lady Melania Trump tested positive for coronavirus.
Futures for the Dow Jones Industrials sank 354 points, or 1.3%, to 27,335.
Futures for the S&P 500 dropped 46.75 points, or 1.4%, to 3,321.
Futures for the NASDAQ Composite plummeted 242.75 points, or 2.1%, to 11,332.
White House physician Dr. Sean Conley said in a memo, “The President and First Lady are both well at this time, and they plan to remain at home within the White House during their convalescence.”
Conley also said he expects Trump to "continue carrying out his duties without disruption while recovering."
Vice President Mike Pence and second lady Karen Pence have both tested negative for the coronavirus, Pence's spokesman said Friday.
The president's diagnosis added more uncertainty to the election, an event that was already weighing on the market and keeping traders on edge as they attempted to evaluate the possible outcomes.
Shares of stocks tied to the economy reopening fell in pre-market trading as the news highlighted the risk of a second wave of the coronavirus and raised fears that maybe lawmakers would slow the pace at which they relaxed coronavirus measures.
Shares of cruise lines and airlines were the biggest losers in pre-market trading. Carnival and Norwegian Cruise Line fell 5% each. American Airlines and United Airlines both lost more than 4%.
Technology shares also declined in premarket trading with Apple, Amazon, Microsoft and Facebook all losing at least 2%. Tech stocks could come under pressure under a Democratic sweep scenario if it leads to higher tax rates and tighter regulations, many strategists have said.
Traders were also watching the status of stimulus negotiations between Democrats and Republicans. The House passed the $2.2-trillion Democratic coronavirus stimulus bill Thursday night, but Republicans oppose this package. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have agreed to continue to have talks on a bipartisan agreement.
Investors got a read on the state of the ongoing labour market recovery when September's jobs report was released Friday morning. The final jobs report ahead of the election showed the stateside economy created only 661,000 jobs last month. Economists surveyed by Dow Jones expected 800,000 non-farm payrolls added, down from 1.37 million in August.
Overseas, in Japan, the Nikkei 225 sank 0.7%, while Hong Kong markets remained closed for a holiday.
Oil prices dipped $1.29 to $37.43 U.S. a barrel.
Gold prices doffed $1.40 to $1,914.90.