Stocks open broadly higher on Wall Street following encouraging news about a possible coronavirus vaccine. The stock of drug company Moderna, which is developing the vaccine with the National Institutes of Health, rose sharply in the early going.
A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, July 15, 2020. Shares were mostly higher in Asia on Wednesday as investors were encouraged by news that an experimental COVID-19 vaccine under development by Moderna and the U.S. National Institutes of Health revved up people’s immune systems just as desired.
The focus was on news that scientists soon will begin a 30,000-person study to see if the experimental vaccine developed by Moderna and the U.S. National Institutes of Health is strong enough to protect against the coronavirus. But the central back acknowledged very high uncertainty over the outlook for the world’s third largest economy. The bank’s growth forecast for the year was downgraded to minus 5.7%- minus 4.5% from the earlier forecast of minus 5%-minus 3%.
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