“STOCK MARKET UP BIG, VACCINE COMING SOON. REPORT 90% EFFECTIVE. SUCH GREAT NEWS!” Tweets US President Donald Trump.
Pfizer has announced their CCP Virus vaccine is over 90% effective in clinical trials.
Following the news, the Dow surged 4.7% to a new all-time-high.
The S&P 500 reached a record high as well.
Companies in the restaurant, hospitality, and in-person entertainment sector surged, while companies related to the stay-at-home sector – including Zoom – saw declines.
Experts have noted that a 50%-60% effectiveness range would have been sufficient for a vaccine to ultimately bring an end to the virus, meaning a 90% success-rate, if ultimately proving true for a large population, would be a big deal.
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