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U.S. Indices Dropped – Covid Situation Still Fearing Markets

On Monday, December 7, after hitting record highs during the Friday session, the primary U.S. stock indexes ended trading mostly in negative territory.


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A further worsening of the pandemic situation in the world was correlated with pessimism in the market. In a number of nations, governments are forced to revert once again to stricter measures. New restrictions in the United States are also being imposed. In California, however it is illegal to leave home for at least three weeks, although the ban extends to 85% of this state’s residents. Previously, Germany’s lockdown, effective from the beginning of November, had been extended until 10 January.

Deborah Birks, White House coronavirus coordinator, said the latest outbreak of COVID-19 in the United States is the worst event the country has faced.” A number of economists are calling for a new stimulus plan to be agreed as soon as possible to help the U.S. citizens survive the pandemic.

On Monday, the blue-chip Dow Jones Industrial Average fell 0.49 percent to 30,069.79 points at the end of the day. The broad-market S&P 500 index dropped 0.19 percent to 3,691.96 points, and the high-tech NASDAQ index advanced 0.45 percent to close at 12,519.95 points.

At the end of trading on the NYMEX, the price of light crude oil futures for delivery in January dropped by $0.50 to $ 45.76 per barrel. Following the results of trading on COMEX, the price of gold futures for January delivery increased by $25.80 to $1,863.30 per troy ounce.

Market capitalization of Moderna Inc (MRNA) rose by 4.59 percent to $159.52 on Monday, due to news that the government of Canada doubled the order for its coronavirus vaccine to be delivered.

Shares of pharmaceutical giant Pfizer Inc (PFE) gained 2.26 percent to close the session at $41.25, and the support was provided by the news that it applied for its vaccine to be licensed in India, which ranks second most affected country in the world by COVID-19.

Shares of automaker Ford Motor Company (F), dropped by -1.28 percent to $9.22. The company said the launch of the new Bronco SUV has been delayed due to supplier issues caused by the pandemic.

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