U.S. President Donald Trump, flying aboard the Marine One helicopter, makes an aerial tour of hurricane Maria storm damage around San Juan, Puerto Rico, U.S. October 3, 2017. REUTERS/Jonathan Ernst
NEW YORK (Reuters) - Puerto Rico's benchmark general obligation bonds fell on Wednesday, hitting a record low, after U.S. President Donald Trump suggested late on Tuesday that island's massive debt load will have to be wiped out because of devastation caused by Hurricane Maria.
The bond due in July 2035, the island's most recent benchmark debt issue, dropped by 5 cents to 38 cents on the dollar by midday on Wednesday, after falling by as much as a third. Trading volumes jumped following Trump's comments and prices fell as low as 30.25 cents.
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