“As of today, there is no evidence that the incidents are caused by the vaccine and it is important that the vaccination campaigns continue so that we can save lives and fight the serious illness of the virus,” the World Health Organization said in a statement to CNN. .
The pauses come as a third wave of infections looms across the continent. Italians are back under lockdown restrictions as the government tries to stem a recent surge in cases, canceling plans over Easter.
Growls as they roll out vaccines will only make those gaps worse – especially with the United States, which doesn’t rely on the AstraZeneca injection for its vaccine campaign. Millions more Americans will be eligible for vaccines this week as many states expand their pools.
“Faster progress in the roll-out of vaccines in all countries could accelerate the removal of restrictions and increase confidence and expenditure. Slow progress in vaccine roll-out and the emergence of new virus mutations resistant to existing vaccines would lead to a weaker recovery, greater job losses and more bankruptcies, ”the OECD warned in its report.
Inequality plays out across the markets. The European Stoxx 600 index was flat on Monday, while the S&P 500 rose nearly 0.7% and hit another record high.
American Airlines’ stock rose 7.7%, while Delta saw its stock rise more than 2%. JetBlue jumped almost 6%.
What follows: European equities rise Tuesday as investors wait for more information on how long the suspensions will last. The European Commission also announced that Pfizer will accelerate delivery of 10 million doses to the block this spring.
Investing’s newest superstar is having a rough month
But lenders will need to be determined to deal with heartbreaking volatility in her firm’s exchange-traded ARK funds, my CNN Business colleague Paul R. La Monica reports.
The latest: the ARK Innovation ETF, which Tesla considers its top holding, has been on a wild ride lately. Tesla makes up more than 10% of the fund’s assets, so Wood’s success is closely tied to what the market thinks of CEO Elon Musk.
Tesla has soared in recent days, but is still down about 20% from its all-time high. That means the ARK Innovation ETF is up more than 15% in the past week, but continues to drop sharply from its 52-week high.
Large swings have also hammered other ARK ETFs that focus on autonomous technology and robotics, genomics, next-generation internet services and fintech. The company also plans to launch a space exploration ETF.
But Wood and her colleagues are embracing the volatility that comes with investing in high-growth stocks. Ren Leggi, the company’s client portfolio manager, told CNN Business that the recent move to banks, oil stocks and retailers – which investors believe may be undervalued due to the pandemic – is just a “momentary spin”.
“Value industries are becoming increasingly vulnerable to disruption,” said Leggi, noting that Wood and the rest of the ARK team are reflecting on investments over a five to 10 year horizon.
He added that ARK is more than willing to place bets on companies it believes should their stock prices fall – seeing an opportunity to get in for a bargain.
“When there are market dislocations and big sell-offs, we don’t get shocked,” said Leggi. “We are fascinated because you can get good stock for a lower price.”
Ray Dalio thinks market dynamics have ‘gone dumb’
Ray Dalio, the billionaire founder of Bridgewater Associates, has some choice words on the wisdom of investing in government bonds right now.
His opinion: “Instead of getting paid less than inflation, why not buy stuff – whatever – that’s equal to inflation or better?”
Dalio acknowledges that there is a “bubble dynamic” in the financial markets thanks to unprecedented stimulus efforts from central banks.
“There is just so much money being injected into the markets and the economy that the markets are like a casino where people play with funny money,” he writes. “They buy everything and put the proceeds down on everything.”
Dalio does not pass judgment on recent policy decisions and calls himself a “practical” investor who simply “tries to stay one step ahead of the crowd”.
What that means: According to Dalio, investors should avoid cash and instead “buy higher-yielding, non-debt-conscious investment assets.” In other words, things may be weird, but he still thinks it’s time to spend money.
Next one
U.S. retail sales for February post at 8:30 a.m.ET, followed by industrial production data at 9:15 a.m.ET.
Tomorrow is coming: The latest Federal Reserve policy decision will be closely watched – most notably Chairman Jerome Powell’s press conference following the announcement.