Dow drops 700 pts amid vaccine worries

Friday, 29. January 2021 18:50

The Dow Jones Industrial Average dropped 700 points on Friday as Pfizer CEO Albert Bourla said making vaccines was complicated and that Pfizer's jab may not work on future variants of COVID-19, despite claiming earlier that it would. AstraZeneca delivery issues and limited Johnson & Johnson vaccine efficacy figures also contributed to the sharp drop. Meanwhile, traders were running away from stocks as Capitol Hill and the Securities and Exchange Commission continue to watch the GameStop short-squeeze.

The Dow lost 1.92% at 12:55 pm ET as Johnson & Johnson fell 4.52% at 12:41 pm ET.

The Nasdaq 100 plummeted 2.31% or just over 300 points at 12:56 pm ET, with Charter Communications leading the losses as it plunged 7.04% at 12:57 pm ET.

The S&P 500 lost 2.10% at 12:57 p, ET, with ResMed dropping 7.20% 12:42 pm ET.

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Breaking the News / VP