Promising COVID Vaccine Sends Stocks Soaring

On Monday, US stocks soared to record highs.

This came after Pfizer said its COVID-19 vaccine showed more than 90% efficacy in its phase 3 trial that enrolled 44,000 patients.

Business Insider reports that both the S&P 500 and Dow Jones industrial average opened at intraday all-time highs.

The development could remove pandemic significant uncertainty from the market.

Airlines, restaurants, and financial sectors soared.

Work-from-home stocks like Zoom, Peloton, and Netflix plummeted.