News of Pfizer’s Covid-19 vaccine progress, and Joseph R. Biden Jr.’s victory, gave investors reason to cheer.
The latest sell-off has come as a second wave of cases forced more lockdowns in Europe, threatening the economic recovery and spooking investors around the world.
Investors have cast the nearly relentless drumbeat of bad news aside to focus on any signs that the worst of the coronavirus pandemic might be over.
Investors are finally catching up to the fact the U.S. economy is not recovering anytime soon, and shares tumbled nearly 6 percent.
Unfortunately, the virus doesn’t care about political spin.
I’ve survived — and even prospered through — four stock-market crashes. But nothing prepared me for this.
Tokyo briefly falls more than 10 percent as investors flee markets. The broad market sell-off sends worrying signals.
A global disease outbreak isn’t the kind of risk that many investors were trained to react to.