Wall Street closes lower on vaccine delay, dampened stimulus hopes
Wall Street lost ground on Tuesday, with halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighing on sentiment as third quarter earnings season got underway.
While all three major stock indexes closed in the red, a gain Microsoft Corp shares helped the mitigate the tech-heavy Nasdaq’s loss.
Johnson & Johnson announced on Monday it was pausing clinical trials of a COVID-19 vaccine candidate due to an unexplained illness in a study participant. The delay weighed on the company’s shares, even after its beat-and-raise earnings report. Its shares lost 2.3%.
The Dow Jones Industrial Average fell 157.71 points, or 0.55%, to 28,679.81, the S&P 500 lost 22.29 points, or 0.63%, to 3,511.93 and the Nasdaq Composite dropped 12.36 points, or 0.1%, to 11,863.90.
Rference: Reuters
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