Shocking! Almost $2 Trillion Traded After COVID-19 Vaccine News Became Mainstream

It was a surprisingly uplifting day at the global market on Monday when nearly $2 trillion were traded off in a day.

Amir Khollam

November 11, 2020

Trending News

3 min

zeenews

Recently, a breakthrough in the COVID-19 vaccine was reported majorly which sparked one of the biggest trading days witnessed during recent times. The stock market had not witnessed trading so large in recent times ever since the pandemic crisis reached its heights. However, according to early data being reported in multiple economic publications, nearly $2 trillion (1.51 trillion pounds) was traded through changing hands on Monday. Check out the video below –

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Pfizer Inc had released some data on its vaccine trial on the positive side while it was rotating through various technology stocks and top-rated bonds. This triggered traders to invest in riskier sides of Equity, foreign exchange, and bond markets. There have been a number of developments related to the vaccine development from multiple companies who have now triggered the uproar of trading.

In the United States, it was witnessed that nearly $500 Billion were traded, which is the most witnessed ever since in March when the COVID-19 pandemic lockdown had feared traders way from investing any capital. On the other hand, Europe also witnessed $120 Billion getting traded according to data released by Refinitiv. Whereas, Christmas also came early for Value Stocks who typically trade during sensitive economic cycles as they recorded one of their biggest days ever. Majority of value stocks have recorded one-day performances for times greater than they expected it to be.

Bond and currency markets also saw a rise of trading which showcased a performance similar to when the market was under unprecedented waters before the March mayhem kicked in with COVID-19. The average daily turnover had taken a big hit in the month of April where the turnover for the 33 currency pairs on the CLS had come down to $380 billion from March’s $707 billion, which is a significant downfall. However, it was on Monday when the turnover of the 33 pairs of currency CLS recorded an astounding $627 billion. Though the number is still smaller than in peak-March, it is respectable nonetheless.

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