European and American stocks fell, affected by the decision of “Johnson & Johnson” to suspend tests on its vaccine against the Corona virus, which the United States and the European Union are counting on.
European shares fell after the company’s decision raised doubts about when the vaccine would be available, while bank shares were affected by a drop in bond yields amid bets on new stimulus measures from the European Central Bank.
The European STOXX 600 index snapped a three-day winning streak, dropping 0.6 percent, with bank shares dropping 2.7 percent, in parallel with long-term sovereign bond yields in Italy and Greece falling to record low levels.
The American Standard & Poor’s 500 and Dow Jones Industrial Indices began to decline today due to the suspension of vaccine trials, while the Nasdaq Composite Index rose ahead of important events from “Apple” and Amazon.com.
Earlier today, Johnson & Johnson announced that it would stop its tests “temporarily due to an unclear cause of a volunteer disease,” and this comes a month after AstraZeneca suspended last-stage tests on its vaccine.
Only the telecommunications, media and technology sectors rose, with marginal gains, and Reuters quoted analysts as saying that the vaccine developments are unlikely to spark a long-term downturn in stock markets.