New York Stock Market, Smiling at Vaccine News and Crying over Lockdown Policy Warnings

Bill de Blasio, the Mayor of New York, is fist-bumping medical staff at a hospital on the 14th.

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market showed mixed trends as concerns about a possible halt in economic activities due to the spread of the novel coronavirus (COVID-19) emerged.

On the 14th (local time), the Dow Jones Industrial Average fell 184.82 points (0.62%) to close at 29,861.55, the S&P 500 index dropped 15.97 points (0.44%) to finish at 3,647.49, while the Nasdaq index rose 62.17 points (0.5%) to close at 12,440.04.

That day, the New York stock market initially rose on expectations of Pfizer's COVID-19 vaccine rollout starting in New York City, but turned mixed after warnings about a possible suspension of economic activities in the city.

Bill de Blasio, Mayor of New York City, and Andrew Cuomo, Governor of New York State, mentioned that a full shutdown of economic activities could be implemented soon. This signaled that even stronger measures might follow after the suspension of indoor dining in New York City restaurants, which began that day.

CNBC reported that concerns about a lockdown resuming in New York City within a few weeks worsened investor sentiment.

According to data compiled by Johns Hopkins University, the cumulative death toll from COVID-19 in the United States surpassed 300,000 that day, which was also negative news.

West Texas Intermediate (WTI) crude oil for January delivery rose 0.9% (0.42 dollars) to close at 46.99 dollars per barrel. February delivery gold fell 0.6% (11.50 dollars) to close at 1,832.10 dollars per ounce.

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