Friday marked the worst day of the year for the stock market, because the Dow lost 748.63 points, but pharmaceutical companies stood out as a striking exception, with both Pfizer and Moderna shares in the elevator.
The new market figures come after researchers from the Wuhan Institute of Virology have published a report that indicates a more fatal type of coronavirus called HKU5-COV-2.
Wuhan was central to a popular theory that claimed that Covid-19 was manufactured in their laboratory and accidentally leaked to the public, although a dispute that the virus took place naturally.
The research was placed on Tuesday in the scientific journal, Cell, and began to generate panic when the information seemed creepy on the starting months of the COVID-19 Pandemie.
After the news of the scientific study was distributed, the Pfizer (PPE.N) shares rose by 1.54 percent, while Moderna (MRNA) rose by 5.34 percent.
The shares contrasted sharply with the rest of the market, which saw drastic drops. The S&P 500, which follows the share performance of the 500 largest American companies, fell by 1.71 percent and marked the worst day in the past two months.
The Dow Jones Industrial Market saw its worst fall of the year and fell by 1.69 percent. The Nasdaq composite fell no less than 2.2 percent.
The surprising shares fell together with the fear of a new coronavirus, HKU5-COV-2, that researchers say that is similar to SARS-COV-2.
The Wuhan Institute of Virology became a household name after the COVID-19 Pandemie in 2019
The S&P 500 fell by 1.71 percent on February 21
Shares in pharmaceutical companies, Pfizer and Moderna, got up on 21 February after the news broke a study that points to the potential of a new coronavirus
Coronavirus and COVID-19 are often used interchangeably, but coronavirus refers to respiratory viruses that cause diseases in animals and people.
Covid-19, Middle East Respiratory Syndrome (MERS) and seriously acute respiratory syndrome are all coronaviruses.
SARS-COV-2, the virus that caused COVID-19, is similar to HKU5-COV-2, which means that there is a potential that it could eventually spread to people.
The virus is also linked to bats and appeared to use the same cell surface protein as SARS-COV-2.
There are no known cases of HKU5-COV-2, but the virus infiltrates human cells that are comparable to SARS-COV-2 in tests performed by Wuhan researchers.
HKU5-COV-2 aroused further concern, looked strongly more like Mers, a virus that kills almost a third of the infected individuals.
There are very few reported cases of MERS, with only two Americans who ever test a positive test for the virus in 2014.
HKU5-COV-2 is supposed to be linked to mink and pangolines, the latter of which was also considered the animal that brought Covid-19 from bats to people.
Although the revelations can cause concern, some experts urge the public to draw non -conclusions.
The Nasdaq composite fell 2.2 percent on 21 February
The industrial average of Dow Jones fell by 1.69 percent and marked the worst fall of the year
The Wuhan Institute of Virology published a report on a new coronavirus discovery after the controversy around the lab during the COVID-19 Pandemie
Dr. Michael Osterholm, an expert in infectious disease at the University of Minnesota, said Reuters that the public has already developed more immunity for SARS viruses than before 2019.
Osterholm said that the fear that urgent 'was' exaggerated' and warned the research itself of exaggerating the risk for people.
Care for a different pandemic is also not the only factor that may contribute to a decrease in the stock market.
Economists have warned about the potentially devastating impact on the economy because of President Trump's rates.
The inflation figures for January have been 3.0 percent, which is highest that it has been since last June. The average inflation percentage for 2024 was 2.9 percent.
Increased inflation rates have led to higher prices, whereby money watch reports eggs with 15.2 percent and fuel oil by 6.2 percent.
It is unlikely that the Federal Reserve will lower interest rates with high inflation, which could also contribute to a fall in the stock market.
