The US stock markets continued to bet for a near-term economic recovery after Pfizer announced it's coronavirus vaccine, which claims over 90% efficacy.
As ballot-counting continues in the U.S., Democratic Candidate Joe Biden leads the race in some states, while President Donald Trump is filing legal motions based on claims of alleged widespread voter fraud. Trump currently leads in North Carolina and other states, while Biden leads in Arizona, Georgia, Nevada, and Pennsylvania. While Arizona could turn red, it's unlikely that the election outcome will be changed.
Biden is planning to hold further meetings in preparation for a transition of power. Biden commented that Trump's refusal to concede the election is “an embarrassment”.
"I just think it's an embarrassment, quite frankly," he said during a speech in Delaware. "The only thing that, how can I say this tactfully, I think it will not help the president's legacy," he added, commenting that all will come to fruition on January 2020.
The COVID-19 virus continues to spread globally, having so far infected about 51,835,949 individuals worldwide and killed 1,279,963. The United States leads in the number of infections, with 10,568,714 reported cases and 245,943 deaths. The U.S. is followed by India, Brazil, and France.
Stock markets were mixed yesterday, as traders continued selling off tech stocks. The Dow Jones Industrial Average gained 0.90 percent during the session, closing at the 29,420.92 level, while the NYSE Composite gained 0.71 percent during the session, closing at the 13,707.99 level. On the other hand, the S&P 500 went down by 0.14 percent, closing the session at the 3,545.53 level, followed by the NASDAQ 100, which plunged by 1.74 percent during the session, and closed at the 11,624.29 level.