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In a shortened trading session, the US stock market barometer had its worst day of the year.
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De Dow Jones
lost 2.5 percent to 34,899 points. The Nasdaq
lost 2.2 percent. Wall Street only had half a day of trading Friday because of Thanksgiving.
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In the Dow Jones, financial stocks like JPMorgan (-3%) were among the biggest losers, as lower long-term interest rates undermine their interest margin. Also Boeing
(-5%) had a bad day. Investors fear a flare-up of the pandemic will bring air traffic down again.
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Concerns about the evolution of the pandemic were not bad news for all stocks. On the contrary, the vaccine makers Moderna
(+ 21%) at Pfizer
(+6%) shot higher. Pfizer receives approval from the European watchdog to administer its vaccine to children aged 5 to 11 years.
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The pharmaceutical group Merck
did not benefit from that corona effect. She had to report that her anti-corona pill is not working as well as expected. The pill only reduces the number of hospitalizations and deaths by 30 percent instead of the previously reported 50 percent. Pfizer also produces a pill against corona that reduces hospitalizations and deaths by 89 percent. Merck lost 3.5 percent.
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