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US stocks tumbled as new restrictions to reduce the spread of the coronavirus obscured signs that scientists are making rapid progress towards a vaccine. The dollar has approached its lowest level in the past two years.
Healthcare stocks were among the worst performers when the S&P 500 index fell. Pfizer Inc. grew after claiming its COVID-19 vaccine was 95% effective, paving the way for the company to apply for the first U.S. regulatory clearance for a coronavirus injection within days. Lowe’s Cos Inc. tumbled after earnings fell slightly below analysts’ expectations, while Target Corp. saw a rise in sales.
The cryptocurrency craze has continued to return, with Bitcoin surpassing US $ 18,000 for the first time since December 2017 before slashing earnings. With Bitcoin seemingly in the midst of another parabolic rise, Wall Street titans and celebrities are resuming the surge in the digital currency.
Elsewhere, equity indicators were green across Europe. The pound continued its advance amid hopes for a Brexit deal and data showing stronger-than-expected inflation. The Nikkei 225 Stock Average dropped 1.1% after Tokyo reported a record number of new COVID-19 infections, but overall Asian stocks were slightly higher on the day.
These are the main moves in the markets:
Actions
The S&P 500 Index fell 0.2% at 1:58 pm New York time.
The Stoxx Europe 600 index rose 0.4 percent.
The MSCI Asia Pacific Index increased by 0.2 percent.
The MSCI Emerging Market Index rose 0.5%.
Currencies
The Bloomberg Dollar Spot Index fell 0.2%.
The euro rose 0.1% to $ 1.1868.
The British pound climbed 0.3% to US $ 1.3285.
The Japanese yen strengthened 0.3 percent to 103.84 per dollar.
Bonds
The 10-year Treasury bond yield increased three basis points to 0.89 percent.
Germany’s 10-year yield increased by one basis point to -0.56%.
Britain’s 10-year yield increased by one basis point to 0.33%.
Raw material
West Texas Intermediate crude gained 1.7% to $ 42.15 a barrel.
Gold fell 0.3% to $ 1,875.42 an ounce.
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