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Well, today the US stock market finally broke a four day winning streak.

So this was the first decline in five days that winning streak had been powered by some

renewed hopes that the president in Congress would come to some type of agreement on a stimulus

package.

But today the markets were focused on the news announcement that came out overnight

that Johnson and Johnson had paused its phase three trials for its COVID vaccine.

And so anything that delays a vaccine is a negative for the global economy because the

vaccine is what is hoped will allow a return to normal.

Once there's a vaccine, well, then people will be less fearful of contracting COVID.

And they're more likely to go out and travel and do all sorts of things and governments

can relax a lot of the restrictions if they know that people are now immune and they

were not going to catch COVID.

So this caused the market to sell off.

Although the sell off was mainly confined to those companies that are actually involved

in the real economy like oil stocks, for example, were among the hardest hit.

Why?

Well, because if the return to normal is delayed due to a vaccine taking longer to develop,

well, people won't go back to traveling as much.

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