Home Business Dow flashes over 600 points disappointed Johnson vaccine, worrying poisoning | RYT9

Dow flashes over 600 points disappointed Johnson vaccine, worrying poisoning | RYT9

by news dir

The Dow continued to plummet today. The latest collapse of more than 600 points as investors disappointed the results of the COVID-19 vaccine trial. Johnson & Johnson Company (J&J)

The Dow was also pressured by concerns about market volatility caused by GameStop spinning.

As of 12.48 hours, the Dow Jones Industrial Average stood at 29,947.28 points, negative 656.08 points or 2.14%.

Investors are concerned about J & J’s COVID-19 vaccine after the trial showed. The vaccine was 72% effective against COVID-19 in the US, but it was less effective in other regions.

The results also indicate that J & J’s vaccine does not protect against COVID-19. South African species

J&J said the results of a Phase III vaccine trial with more than 43,000 volunteers found that 468 volunteers were infected with the COVID-19 virus. While some people are infected with B.1.351, the COVID-19 virus. South African species

The results of the experiment showed that The company’s vaccine was 66% effective overall, with a 72% efficiency in the US, 66% in Latin America and 57% in South Africa after four weeks of vaccination.

J & J’s vaccine can immunize the COVID-19 virus. With just one injection This is different from the Pfizer / Biotech vaccine, AstraZeneca / University of Oxford and Moderna, which requires two injections.

Share price of GameStop, the most popular video game store in the US. It has surged more than 1,000% since the beginning of this month. It is seen as a gathering of US retail investors to preach big hedge funds that are often speculated by selling short in markets.

The group of investors in WallStreetBets This is a sub-board on Reddit, a forum with over 4 million members and a common place for retail investors to chat to exchange information on the stock market. It aims to push GameStop’s share price higher in order to pressure the hedge fund to re-buy it to cut losses. After selling short before, it was speculated that GameStop would soon shut down.

That action by small investors has cost hedge funds billions of dollars.

There is now concern that if GameStop stocks continue to rise. Will cause the hedge fund to suffer heavy losses As a result, these hedge funds will sell other stocks in the market to raise funds to compensate for the speculative losses on GameStop.

There is also concern that the GameStop phenomenon is signaling a market bubble. Which if the bubble burst Will create a panic And severely impacted retail investors

Meanwhile, trading volumes have skyrocketed as investors flock to GameStop shares, with Wall Street trading volumes surging more than 23.7 billion shares on Wednesday. It was higher than the highest level it had hit during the 2008 financial crisis, while volume traded more than 19 billion shares yesterday.

GameStop’s share price jumped 70 percent on the day after yesterday’s closing down 44 percent to $ 193.60.

Previously, GameStop’s share price traded at $ 2.80 a share in April last year. At that time The company announced it would close more than 300 stores amid a massive debt crisis it faces.

Today’s rebound in GameStop shares is due to online brokerage Robinhood. Which offers stock trading services through a free application More than 13 million users of the service announced that it has unblocked GameStop shares, allowing investors to buy them in a limited scale. After yesterday The company issued a rule restricting trading in GameStop shares by setting a higher margin. And allow investors to sell the shares they hold But it will not be able to buy new shares, with Robinhood said the measure was meant to stem market price volatility.

“Start tomorrow We will allow investors to buy a limited number of shares. And we will continue to keep an eye on the situation. And may make adjustments to trading rules as necessary, “said Robinhood’s statement.

Robinhood stated that the company decided to limit its trading on earlier stocks. To comply with US Securities and Exchange Commission (SEC) regulations and to protect investors.

Users of Robinhood filed a lawsuit in a US court yesterday after Robinhood blocked investors from buying GameStop shares.

Brendon Nelson filed the indictment with the US District Court in Manhattan, stating that “Robinhood had deliberately blocked GameStop’s shares and intended to manipulate markets. It breached the contract by refusing to disclose that the company was randomly removing profitable stocks from its trading platform.

Nelson claimed that Robinhood’s actions had cost him the opportunity to acquire GameStop shares as the stock price soared.

Nelson has also petitioned the court for Robinhood to immediately unblock GameStop shares and make compensation paid to investors.

Mr. Nelson’s lawyer said: Hundreds of investors have also come in contact with the prosecution of Robinhood.

Additionally, members of Congress from both Democrats and Republicans Both opposed Robinhood blocking GameStop shares.

U.S. House of Representatives Nancy Pelosi said Congress would join a review of GameStop’s rise in stock after it created volatility on Wall Street.

Mrs. Pelosi’s attitude corresponded with the White House. It also announced a surge in GameStop stocks that have raised concerns about the market bubble.

President Joe Biden’s economic team, including US Treasury Secretary Janet Yellen, Which took office for the first day on Wednesday said the government was monitoring the situation.

Mr. William Galvin, Secretary of State of Massachusetts Calls for the New York Stock Exchange (NYSE) to suspend trading of GameStop shares for 30 days to reduce market volatility.


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