Stock Market wraps up mixed after news on delayed vaccine rollout
Stock market ended mixed today Tuesday as the vaccine rollout from Johnson & Johnson's (JNJ) COVID-19 vaccine was found to have caused blood clotting in some patients who took the vaccine.
By: Investam HK Limited
According to the reports from health agencies, more than 6 severe blood clots are being investigated closely out of the 6.8 million doses that have been administered so far. The decision was based on 'abundance of caution', says FDA on a post in Twitter.
S&P 500 closed an all new high today despite the news about the vaccine rollout pause. Continuous economic recovery is being expected despite inflation records shown today to be higher than expected.
NASDAQ Composite Index also closed an all time high with 13,996 today. Inflation concerns are now minimal as the fine print on inflation rate was released. Though it was higher than expected, investors believe that the economic stimulus is enough to keep it in check, hence again shifting to tech stocks for quick growth.
The Dow Jones Industrial Average was hit hard by what happened with Johnson & Johnson's, and both closed in the red in today's session.
Here's a quick rundown of the market's movements for today:
Investam HK Limited