Stocks Ended Lower after Report Questioned Moderna Vaccine Data

U.S. stocks ended lower on Tuesday, after a report raised questions about Moderna’s Covid-19 vaccine trial data. The Dow Jones Industrial Average fell 390.51 points, or 1.59%, to 24,206.86. The S&P 500 retreated 30.97 points, or 1.05%, to 2,922.94. The Nasdaq Composite declined 49.72 points, or 0.54%, to 9,185.10.

U.S. oil futures settled higher on Tuesday, getting a lift from global supply cuts and signs of improving demand. July WTI contract added 31 cents, or 1%, to settle at $31.96 a barrel. Brent crude for July delivery lost 16 cents, or 0.5%, to $34.65 a barrel.

Moderna (MRNA) shares dropped 9%, paring some of Monday’s surge, after STAT News published an article citing experts who suggested “we ought to take the early readout” from the company’s vaccine Phase 1 trial “with a big grain of salt.”

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