US stocks stumble as Moderna sinks on report questioning trial results

A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against Covid-19 - Reuters

NEW YORK (Reuters): The S&P 500 closed lower on Tuesday, as investors focused on a report questioning Moderna's recent coronavirus vaccine early-stage trial results, wiping out modest gains on the benchmark index in the last hour of trading.

Major averages fell to session lows in the wake of a report from STAT News that questioned the validity of the results of Moderna's vaccine trial, which the company had announced Monday.

Moderna Inc shares plunged after the report, and closed down 10.41%.