Stocks rally worldwide on encouraging COVID-19 vaccine data
NEW YORK (AP) — Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine. The S&P 500 rose 1.2% after Pfizer said an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. The index had been up as much as 3.9% earlier in the day, above its record high. Drops in Big Tech companies like Apple and Micorosoft, which have thrived during the pandemic, dragged the Nasdaq composite lower.
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