Wall Street falls after J&J vaccine data; GameStop effect weighs
The Dow Jones Industrial Average was down 404.60 points, or 1.32%, at 30,198.76, the S&P 500 was down 47.75 points, or 1.26%, at 3,739.63, and the Nasdaq Composite was down 139.68 points, or 1.05%, at 13,197.48. Reuters
Source: Reuters
U.S. stock indexes fell on Friday after COVID-19 vaccine data from Johnson & Johnson hurt sentiment, while a standoff between Wall Street hedge funds and small, retail investors weighed.
Johnson & Johnson fell 3.9% after the drugmaker said its single-dose vaccine was 72% effective in preventing COVID-19 in the United States, with a lower rate of 66% observed globally.
The results compare to the high bar set by two authorized vaccines from Pfizer Inc/BioNTech SE and Moderna Inc, which were around 95% effective in preventing symptomatic illness in key trials when given in two doses.
Wall St. falls after J&J vaccine data; GameStop effect weighs
By Devik Jain and Shreyashi Sanyal
Reuters
(Reuters) - U.S. stock indexes fell on Friday after COVID-19 vaccine data from Johnson & Johnson hurt sentiment, while a standoff between Wall Street hedge funds and small, retail investors weighed.
Johnson & Johnson fell 3.9% after the drugmaker said its single-dose vaccine was 72% effective in preventing COVID-19 in the United States, with a lower rate of 66% observed globally.
The results compare to the high bar set by two authorized vaccines from Pfizer Inc/BioNTech SE and Moderna Inc, which were around 95% effective in preventing symptomatic illness in key trials when given in two doses.
NEW YORK/BENGALURU (Jan 29): US stock indexes fell on Friday after Covid-19 vaccine data from Johnson & Johnson hurt sentiment, while a standoff between Wall Street hedge funds and small, retail investors weighed.
Johnson & Johnson fell 3.9% after the drugmaker said its single-dose vaccine was 72% effective in preventing Covid-19 in the United States, with a lower rate of 66% observed globally.
The results compare to the high bar set by two authorised vaccines from Pfizer Inc/BioNTech SE and Moderna Inc, which were around 95% effective in preventing symptomatic illness in key trials when given in two doses. While it s good to have another entrant, the question is the efficacy. The concern is if it s a lot less effective, then investor and consumer confidence will be substantially lower, said Sam Stovall, chief investment strategist at CFRA Research.
4 Min Read
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) J&J COVID-19 vaccine 72% effective in U.S., 66% globally GameStop plays surge as brokerages ease restrictions Popular mega-cap long positions take a hit Indexes down: Dow 0.80%, S&P 0.80%, Nasdaq 0.94% (Updates prices to open)
Jan 29 (Reuters) - U.S. stock indexes fell on Friday after COVID-19 vaccine data from Johnson & Johnson hurt sentiment, while worries over a growing standoff between hedge funds and retail investors persisted.
Shares of Johnson & Johnson fell 4% after the drugmaker said its single-dose vaccine was 72% effective in preventing COVID-19 in the United States, with a lower rate of 66% observed globally.
Wall Street falls after J&J vaccine data, hedge fund-retail investor clash marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.