The Covid-19 Vaccine development pains: COVID-19 vaccine setback weighs on Wall Street

News of a setback on a coronavirus vaccine candidate and reports of the first COVID-19 reinfection in the United States are sapping investor sentiment, while the official start of earnings season, the unofficial start of the US holiday shopping season, and Apple’s iPhone launch event are all moving markets.

Shares of Johnson & Johnson were down more than two percent minutes into the trading session after the pharmaceutical giant said it had paused clinical trials of its coronavirus vaccine candidate due to an “unexplained illness” in a study participant.

Last month, AstraZeneca halted a late-stage trial of a COVID-19 vaccine candidate after a participant fell ill.

The news follows in the wake of more documented evidence that sheds doubt on whether herd immunity to COVID-19 is possible.

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COVID-19 vaccine setback weighs on Wall Street | US & Canada News | Al Jazeera

USA - Wall Street Selloff? ; Dow Futures Point to Friday Bloodbath as Coronavirus Shock Hits Home

The U.S. futures market traded sharply lower overnight, extending a brutal selloff that has engulfed

Wall Street for the better part of three weeks. Dow Jones mini futures contracts were off by as much as 623 points to reach an intraday low of 20,321.00.

At the time of writing, the Dow Jones futures contract was down 522 points, or 2.5%, to 20,563.00.