Dow surges to all-time high after Pfizer reveals its Covid vaccine is more than 90% effective

Stock markets

Stock markets rallied to record highs at the opening bell in New York on Monday, after drug makers Pfizer and BioNTech announced that their Covid-19 vaccine is more than 90 percent effective.

The Dow Jones Industrial Average opened up 1,600 points, or 5.6 percent, hitting an all-time high before retreating slightly. The broader S&P 500 also hit a record high, jumping 3.7 percent. The tech-heavy Nasdaq Composite grew 1.3 percent.

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