The Dow Jones Industrial Average has nearly made a full comeback from the coronavirus doldrums its faced during the spring.
After peaking in February at 29,551, the Dow Jones dropped to 18,591 just a month later. On Tuesday, the Dow closed at 29,420 points for its highest close since February 12.
The Dow Jones has been spurred by news that Pfizer’s Phase 3 coronavirus vaccine is showing at 90% effectiveness rating. The news has buoyed stocks from across the spectrum in recent days, including travel, technology and entertainment.
After a summer of impressive gains, the Dow leveled off for much of the fall as coronavirus cases began to surge throughout the US.