Wall Street was moving without clear direction this Tuesday after Russia announced it had developed a Covid-19 vaccine.
Wall Street was moving without clear direction this Tuesday after Russia announced it had developed a Covid-19 vaccine.
As of 1:50 PM universal time, the main index Dow Jones gained 1.25% to 28,138.30 units.
The tech-heavy Nasdaq lost 0.22% to 10,944.24 points.
And the broader S&P 500 rose 0.52% to 3,378.03 units.
The stock market closed mixed on Monday after new economic aid measures launched by Donald Trump over the weekend: the Dow Jones gained 1.30% and the Nasdaq lost 0.39%.
Russia has developed the "first" coronavirus vaccine, which provides "lasting immunity," Russian President Vladimir Putin said Tuesday during a videoconference with government members broadcast on television.
"This morning, for the first time in the world, a vaccine against the new coronavirus has been registered," Putin said. "I know it is quite effective, it provides lasting immunity," he added.
"To be honest, there is a lot of skepticism about the Russian vaccine, which sped through several key stages of clinical trials and will undoubtedly not be accepted by the United States," observed Patrick O'Hare of Briefing.com.
The World Health Organization (WHO) reacted cautiously to Russia's announcement on Tuesday, recalling that the "prequalification" and approval of a vaccine involve "rigorous procedures."
According to O'Hare, however, this news "is another indication that the world is moving closer to developing a reliable vaccine."
