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Dow Jones closes at near record high on Tuesday

Dow Jones closes at near record high on Tuesday
Posted at 4:20 PM, Nov 10, 2020
and last updated 2020-11-10 17:08:34-05

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.