General

European Markets Slump Tuesday

European markets are down Tuesday in reaction to a setback in the race to develop a coronavirus vaccine.

London’s FTSE index and the CAC-40 index in Paris are both trading 0.3% lower at the midday mark, while Frankfurt’s DAX index is down 0.3%.

In a story first reported Monday by the health care news website Stat, U.S. pharmaceutical giant Johnson & Johnson paused its late-stage clinical trials of its single-dose COVID-19 vaccine after a participant was diagnosed with an unexplained illness.

Earlier in the day, the Nikkei index in Japan closed 0.1% higher. Sydney’s S&P/ASX index finished up one percent. Shanghai’s Composite index was up over one point, but percentage-wise was unchanged. The KOSPI index in Seoul was down just over one-half-point, but was unchanged percentage-wise. Taipei’s TSEC index dropped nearly nine points, but was also unchanged percentage-wise.

In late afternoon trading, Mumbai’s Sensex had gained over 31 points, but was unchanged percentage-wise.

Trading on Hong Kong’s Hang Seng index was closed due to a typhoon warning.

In commodities trading, gold is selling at $1,925.70 per ounce, down 0.1%. U.S. crude oil is selling at $40.22 per barrel, up 2%, and Brent crude oil is selling at $42.47 per barrel, up 1.8%.

In futures trading, the Dow and the S&P 500 are trending lower, while the NASDAQ is higher ahead of the start of the trading day on Wall Street.

Source: Voice of America