Stocks Surge Worldwide To New All-Time Highs After Pfizer Says Covid-19 Vaccine Candidate 90% Effective

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Industries hardest hit by the pandemic are among those rallying the most on Monday morning.

for its coronavirus vaccine candidate, saying that it could be 90% effective at preventing the disease. © 2020 Bloomberg Finance LPShortly after the open, the Dow Jones Industrial Average was up 6%, or nearly 1,700 points, hitting a new all-time high and putting the index on track for its third-best daily point gain.

Not all sectors, however, are rallying; the tech-heavy Nasdaq is up just 0.8% as stay-at-home pandemic favorites like Zoom, Slack and Twilio plummeted 14%, 4% and 3%, respectively, revealing some tech sensitivity to a post-pandemic future.

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