President Donald Trump appeared to take credit for recent stock market gains and the news that Pfizer’s early vaccine is more than 90 percent effective.
“STOCK MARKET UP BIG, VACCINE COMING SOON. REPORT 90% EFFECTIVE. SUCH GREAT NEWS!” the president wrote.
STOCK MARKET UP BIG, VACCINE COMING SOON. REPORT 90% EFFECTIVE. SUCH GREAT NEWS!
— Donald J. Trump (@realDonaldTrump) November 9, 2020
The stock market did indeed see gains in the last couple of days. Reports indicate that the market surged amid the vaccine news and following President-Elect Joe Biden‘s win.
“Wall Street was already expecting a Biden victory as [the] the election appeared to tip in the Democrat‘s favor throughout last week. But investors are now able to react with more certainty: CNN projected Saturday that Biden would become President of the United States as his path to victory in Pennsylvania appeared to deliver him enough electoral votes,” CNN reported earlier this morning.
Pfizer announced the news about its vaccine earlier this morning. Its coronavirus vaccine trial suggested the vaccine is more than 90 percent effective at treating Covid-19. The vaccine was developed with German drugmaker BioNTech.
UPDATE: We are proud to announce, along with @BioNTech_Group, that our mRNA-based #vaccine candidate has, at an interim analysis, demonstrated initial evidence of efficacy against #COVID19 in participants without prior evidence of SARS-CoV-2 infection.
— Pfizer Inc. (@pfizer) November 9, 2020
Alan is a writer, editor, and news junkie based in New York.