Potential COVID-19 Cure Brings Light to the Stock Market

A small glimmer of hope appeared on Tuesday, when Gilead, supported by Dr. Anthony Fauci, announced optimism about remdesivir, an experimental drug designed to shorten the recovery period for COVID-19.

Fauci spoke at the White House, lauding the drug for showing clear-cut, significant, and positive effect in diminishing the time to recovery.

In response, the Dow, Nasdaq, and S&P 500 saw an immediate climb of 2-4%.

Although not a vaccine and still lacking some data in control group, former FDA commissioner is hopeful that while this may not get rid of COVID-19 completely, it will begin the process of applying more effective treatment.

There are still many concerns regarding the actual effectiveness of the drug, and there are such concerns; however, the market is hopeful for any advancement against COVID-19.

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