12/21/2020, 7:17 PM (Source: TeleTrader)
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Dow rebounds from 400-point loss

The Dow Jones recovered from its 400-point loss from earlier in the session on Monday as fears over the new COVID-19 variant appeared to ease on Wall Street.

At the moment, there is no evidence to suggest that the more contagious strain of coronavirus, which has become the dominant variant in the UK, is also more virulent than the original strain. Meanwhile, experts said that they believe the COVID-19 vaccines developed by Pfizer, BioNTech and Moderna will be equally effective against the new variant.

The Dow was 0.05% in the green at 1:10 pm ET. At the same time, the S&P 500 was down 0.52%, while the Nasdaq 100 fell 0.53%.

Breaking the News / JC