The S&P fell because of doubts in results of tests of a vaccine against coronavirus
NEW YORK, may 20 (Reuters) – the S&P 500 Index ended the session Tuesday in negative territory, as investors focused on the message, questioning the results of early vaccine trials from COVID-19 company Moderna.
The major indexes fell to session lows after reports of STAT News portal, which questioned the reliability of the results of vaccine trials Moderna, which the company announced on Monday. Moderna Inc shares ended up falling in, to a decrease of 10.41%.
“The market is reacting to news of health is much more than economic data,” said Art Hogan, chief strategist for markets at National Securities in new York.
“We are laying at prices a significant decline in the second quarter – the GDP growth rate, earnings, economic data – but what we don’t know what will stimulate the markets, this is a growing good news from the front lines of health care”.
Shares of the network of shops selling tools for repairing and building materials Home Depot (NYSE:HD) fell by 2.96%, as the company’s profit in the first quarter did not reach projections due to pandemic COVID-19.
Paper Walmart (NYSE:WMT) Inc decreased by 2.12%, losing the advantage gained in the session. Comparable sales retailer in the United States rose 10% in the first quarter, while online sales soared by 74%.
The fed continues to consider ways to help more borrowers, the volume of issued still means “fairly moderate,” said Governor Jerome Powell at a hearing in the Senate on Tuesday.
The Dow Jones Industrial Average was down 1.59% to 24.206,86 points, S&P 500 of 1.05% to 2.922,94 points and the Nasdaq down 0.54% to 9.185,10 points.
(Chuck Mikolajczak, translated by Elizaveta Zhuravleva. Editor Marina Bobrova)