The Dow Jones Industrial Average rose 262.95 points, or 0.9%, to 29,420.92, the S&P 500 lost 4.97 points, or 0.14%, to 3,545.53 and the Nasdaq Composite dropped 159.93 points, or 1.37%, to 11,553.86. The pan-European STOXX 600 index rose 0.90% and MSCI's gauge of stocks across the globe%. Emerging market stocks lost 1.16%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.69% lower, while Japan's Nikkei rose 0.26%.
NEW YORK: The S&P 500 posted a modest loss and the Nasdaq closed sharply lower on Tuesday as promising news regarding an effective COVID-19 vaccine led investors away from market leaders and toward cyclical stocks associated with economic recovery.
The blue-chip Dow, buoyed by industrial shares, gained ground and crude oil prices extended the previous session's surge as investors bet on a demand rebound.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
