- The major Wall Street indices are suffering heavy losses on Friday.
- Johnson & Johnson’s disappointing vaccine report weighs on confidence.
- All major sectors of the S&P 500 are operating in negative territory.
The major stock indices in the US started on the last day of the week with a sharp drop amid the ongoing battle between retail investors and institutions and regarding the coronavirus headlines. At time of writing, the Dow Jones Industrial Average was down 1.2% on the day to 30,255, the S&P 500 was losing 0.9% to 3,754, and the Nasdaq Composite was losing 0.8% to 13,096.
Reflecting the gloomy mood of the market, the CBOE volatility index is up more than 5% on the day. Earlier, Johnson & Johnson reported that its COVID-19 vaccine was a disappointing 66% effective overall in the global trial.
All major sectors of the S&P 500 are trading in negative territory after the opening bell. The Communication Services Index is the worst performer, losing 1.6% on the day. The Real Estate, Energy and Technology indices lose around 1.5%.
S&P 500 chart (daily)
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