“Russia Registered a Coronavirus Vaccine. The Market Loves It.”
August 11, 2020
“Russia says it has registered the world’s first vaccine for Covid-19. There are caveats, but an effective vaccine would be great news for the world…
Investors want to believe. Europe’s FTSE 100 index gained 1.4%. Asia’s Hang Seng Index rose 2.1%. The Dow Jones Industrial Average and S&P 500 are up 1.2% and 0.3%, respectively.
U.S. vaccine related stocks—including Moderna (ticker: MRNA) and Pfizer (PFE), which are both working to develop protection against Covid-19—are now down 2.5% and 0.8%, respectively. Stock in Novavax (NVAX)—another company working on coronavirus vaccines—was down 7.7% in early Tuesday trading…”