Markets collapse as vaccine subject gets ill

September 09, 2020 11:00

AstraZeneca - a leader in the race to find a coronavirus vaccine - stopped its trial after one of the test subject's fell ill in a potential adverse reaction to the company's experimental Covid-19 vaccine. The delay in this trial is likely to derail the speed of immunisation around the world causing concern for many traders and investors.

On the back of the news, global stock markets sank along with oil and commodity currencies. Investors fled to safe-haven currencies such as the Swiss Franc and the Japanese Yen.

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The experimental vaccine is being developed by AstraZeneca and researchers from the University of Oxford. It had been one of the leading candidates to reach the global market. The company is now undergoing a standard review to try and understand the unexplained illness.

While shares in AstraZeneca dropped sharply on the news, shares in other rivals traded higher. While US President Donald Trump has stated a vaccine will be available by the end of the year, investors are concerned about the rising pace of infections around the world bringing the possibility of a second wave closer.

How to trade AstraZeneca with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of AstraZeneca, or other markets you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in AstraZeneca, or another market, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

Source: Admiral Markets MetaTrader 5 Web, #AZN, Monthly - Data range: September 1, 2006, to September 9, 2020, performed on September 9, 2020, at 7:05 am BST. Please note: Past performance is not a reliable indicator of future results.

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