In a tragic incident that occurred on Saturday at a rally in Butler, Pennsylvania, former President Donald Trump was injured in an attack.

Several shots were fired at Donald Trump’s rally, one of which tore off the upper part of his right ear.

Trump was immediately transported by the Secret Service to a safer location, and the shooter, whom authorities identified as a Pennsylvania man in his 20s, was shot and killed by law enforcement officers.

NBC News, citing law enforcement sources, reported that one spectator was killed and two others were in critical condition.

US President Joe Biden condemned the shooting and said that “this type of violence has no place in America.”

Former US President Trump later issued a statement saying he felt “fine” and was undergoing medical examination.

“I knew right away something was wrong because I heard a whistling sound, shots and I immediately felt the bullet tear through the skin. There was a lot of bleeding, so that’s when I realized what was happening. GOD BLESS AMERICA,” he added.

House Speaker Mike Johnson said the House of Representatives will “conduct a full investigation into the tragic events” at the Trump rally.

Market Implications

Financial markets could see some risk aversion at the weekly open, prompting a fresh bid under the US dollar. Risk currencies such as the Australian dollar and British pound could see some pullback after solid performances last week, while gold and the Japanese yen could benefit from early risk flows.

However, the risk-averse attitude may soon change as attention turns again to expectations of interest rate cuts by the US Federal Reserve (Fed) and China’s economic prospects after second-quarter gross domestic product (GDP) data is released on Monday morning.