[Asia Economy New York=Correspondent Baek Jong-min] Concerns over the novel coronavirus (COVID-19) once again dragged down the New York stock market. News that Pfizer and BioNTech's vaccine is 95% effective failed to stabilize investor sentiment.
On the 18th (local time), the Dow Jones Industrial Average fell 344.93 points (1.16%) to close at 29,438.42, the S&P 500 index dropped 41.74 points (1.16%) to 3,567.79, and the Nasdaq index declined 97.74 points (0.82%) to finish at 11,801.60.
That day, the New York stock market started strong on news before the opening of Pfizer and BioNTech's COVID-19 vaccine showing 95% immunity effectiveness, but later turned weak amid growing concerns over the spread of COVID-19.
In particular, New York City, the core of US financial transactions and the largest school district, announced it would suspend in-person classes at public schools starting the next day due to the spread of COVID-19, which dampened investor sentiment toward the close of trading.
Boeing started strong on expectations for the lifting of the flight ban on the 737 Max model, which had been grounded, but ultimately closed down 3.2%.
Zoom, a beneficiary stock of COVID-19, closed up 3.3%, showing a shift in market trends.
West Texas Intermediate (WTI) crude oil for December delivery closed up 0.9% (0.39 dollars) at 41.82 dollars per barrel. Gold for December delivery closed down 0.6% (11.20 dollars) at 1,873.90 dollars per ounce.
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