Wall Street was in positive territory on Tuesday but lost strong earlier gains after a report that an experimental antiviral drug for the coronavirus flopped in its first randomized clinical trial.
All three main U.S. stock indexes trimmed increases of over 1%, with the S&P 500 and Nasdaq briefly turning negative after the Financial Times reported that a Chinese trial showed that Gilead Science’s drug remdesivir did not improve patients’ condition or reduce the pathogen’s presence in the bloodstream.
At the end of the day, the Dow Jones Industrial Average was up 0.15% at 23, 511.69 points, while the S&P 500 closed at 2,797.80, down -0.05%.
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