DowToday, it plunged 200 points amid volatile trading. After hitting a record high yesterday.
As of 11.22 p.m. ET, the Dow Jones Industrial Average stood at 30,102.72 points, minus 200.65 points or 0.66%.
The Dow closed 0.5% positive last night, reaching a record high. Responds to the hope that The US Congress will be able to release a stimulus soon, and the market will also be driven by progress in the development of a COVID-19 vaccine. With investors expected The US Food and Drug Administration (FDA) will give formal approval to Moderna vaccines. Inc. today After giving Pfizer approval for the vaccine last week.
Analysts state that Wall Street’s stock markets will have record high trading volume today. With Tesla’s stock included in the calculation of the S&P 500 for the first time.
Tesla has a market value of more than six hundred billion dollars. While its share price has jumped nearly 700 percent this year, Tesla will be the seventh largest stock in the S&P 500 index.
Moreover, the volatile trading conditions And the huge trading volume in the market is also due to the fact that today coincides with the quadruple witching day, the maturity date for the delivery of options and quarterly futures contracts of stocks and indices simultaneously. This makes today one of the busiest trading days of the year.
Senate Majority Leader Mitch McConnell said Congress leaders were close to reaching an agreement to issue stimulus measures to remedy people and businesses affected by the COVID-19 outbreak. Wid-19 The negotiations could continue over the weekend.
Republican members and Democrats have agreed to split the $ 9.08 billion stimulus package into two bills to increase the chances of it being approved by Congress. The first issue will have $ 7.48 billion to cure the unemployed and small businesses affected by COVID-19. Another issue will have $ 1.60 billion to provide assistance to states.
If Congress can’t reach an agreement It will cause government agencies to face a shutdown on Dec. 19 and unemployed Americans will not receive compensation from unemployment benefits on Dec. 26.
The President Donald. Trump tweeted today that the vaccine was against the COVID-19 virus. Of the company moderna Inc. approved. The vaccine will be immediately delivered to US citizens.
“The Moderna vaccine has been overwhelmingly approved. And will be distributed immediately, “said the Twitter message.
However, President Trump tweeted the message before the FDA approved Moderna’s official approval of the vaccine.
Yesterday, an advisory committee for the FDA approved the novel coronavirus vaccine. Moderna is an emergency. This is an important step before the FDA can give this official approval.
The FDA advisory board comprises external experts. Resolved with 20 to 0 votes to approve the novel coronavirus vaccine. Moderna is an emergency. This could lead the FDA to give this official approval today. And it will be the second vaccine approved in the US after last week the FDA approved a vaccine against COVID-19. Developed by Pfizer. And biotech It’s an emergency And began to vaccinate people on Dec 14
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