First COVID vaccine announced as 90% effective

A COVID vaccine developed by Pfizer has today been announced as proving effective against COVID-19 in 90% of test cases in its long term trial. With the trial still not finalised it will be a few more weeks before the vaccine is officially approved. Markets reacted very positively on the news with most developed markets up over 3% with many segments of the market affected by COVID rallying the most. There still remains large logistical hurdles to a global roll out of the vaccine but this initial news will come as a welcome update on the fight against COVID.