Wall Street declines as COVID-19 restrictions dampen vaccine hopes
After a late selloff on Wednesday, shares in the United States recorded a dampened session. This came after investors’ vaccine-driven sentiment was hurt by an upsurge in new COVID-19 infections and newly implemented restrictions in a bid to control the coronavirus pandemic.
While Wall Street’s major indexes advanced, with economically sensitive cyclicals and small caps gaining the most, all of them closed negatively.
The Dow Jones Industrial Average recorded a 1.16% drop to 29,428.42, while the S&P 500 also shed 1.16% to 3,567.79. Meanwhile, the tech-dependent Nasdaq plunged a total of 0.82% to 11,801.60.
Vaccine breakthroughs had kept investors’ sentiment upbeat for a little while, but it was later dampened by surging coronavirus cases across the world and newly implemented restrictions.