Markets were already sharply higher on the U.S. election result when Pfizer said that data shows vaccine shots may be 90% effective at preventing COVID-19, indicating the company is on track this month to file an emergency use application with U.S. regulators.
“This means less uncertainty, less turmoil in terms of foreign relations, and reversal of some futile policies which were put by the Trump administration,” Naeem Aslam, chief market analyst at Ava Trade, said in a commentary. For now, investors seem inclined to shrug off Trump’s refusal to concede and threats of legal action. With Republicans expected to retain their grip on a majority in the Senate, they are betting on continuity in tax, regulatory and other policies, analysts said.
this is terrible news
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