• US stock futures tumbled 2% early Friday after President Donald Trump tested positive for COVID-19, while volatility spiked ahead of a key employment report.

• Gold and US Treasurys rallied as investors sought stability in safe-haven assets, while oil and cryptocurrencies dropped sharply.

• “The initial negative market reaction market implies that volatility will remain elevated as a result,” ADM Investor Services chief global economist Marc Ostwald said.

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