Pfizer’s blockbuster vaccine report flips the markets on their head—pandemic stocks sink, nearly everything else soars

European markets and U.S. futures soared Monday on the announcement by Pfizer and its partner, BioNTech, that their candidate COVID-19 vaccine has proved much more effective than they hoped.

The pharma firms revealed preliminary results from the third and final phase of the vaccine’s trials, which are still ongoing, showing it prevented more than 90% of infections in participants. That’s way above the 60-70% range Pfizer and BioNTech expected to see.

The effect on the markets was giddying. Many of the sectors hardest hit by the pandemic—airlines, energy and financials, to name a few—rocketed higher. Crude prices took off, too. The stay-at-home stocks, meanwhile, cratered, as did gold.

In Europe, currently in the throes of a devastating second wave of the coronavirus pandemic, the Stoxx 600 shot up by 5%, and France’s CAC 40 by more than 7%. Germany’s DAX rose around 6%, and London’s FTSE 100 by more than … Read More

Biden focuses on U.S. coronavirus pandemic as Trump challenges election results By Reuters

© Reuters. Democratic 2020 U.S. presidential nominee Joe Biden speaks at his election rally in Wilmington


By Andy Sullivan, Andrea Shalal and Trevor Hunnicutt

WASHINGTON/WILMINGTON, Del. (Reuters) – President-elect Joe Biden will convene a coronavirus task force on Monday to examine the crisis confronting the United States before he takes office in January, while President Donald Trump pursues several long-shot gambits to hold on to his job.

Biden is due to meet with an advisory board co-chaired by former Surgeon General Vivek Murthy, former Food and Drug Administration Commissioner David Kessler and Yale University Associate Professor Marcella Nunez-Smith to examine how best to tame a pandemic that has killed more than 237,000 Americans.

The Democratic former vice president will then give remarks in Wilmington, Delaware, about his plans for tackling COVID-19 and rebuilding the economy.

“Dealing with the coronavirus pandemic is one of the most important battles our

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