Global equities take a breather following massive vaccine-related moves

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Pfizer and BioNTech’s announcement on Monday that their Covid-19 vaccine was more than 90% effective in preventing the virus has led to big market moves so far this week. While the rally in global equities is remarkable, that isn’t what has captured my interest. It is the big selloff in FANG+ internet platform stocks and the reallocation of funds into economic sensitive sectors that has been more fascinating. The NYSE FANG+ index declined 3.2% on Monday and fell by another 2.5% on Tuesday. Meanwhile, Banks, Travel and Energy stocks have all seen double digit gains over the first two days of… Read More:

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