(CNBC) Stocks were taken for a wild ride on Thursday that showed just how important finding a treatment for the coronavirus is for Wall Street.
The Dow Jones Industrial Average closed just 35 points higher, or 0.2%. Earlier in the day, the Dow rallied more than 400 points. The S&P 500 dipped 0.1% while the Nasdaq Composite closed just below breakeven. Both the Nasdaq and S&P 500 were up more than 1% at their session highs.
The Financial Times said — citing documents accidentally published by the World Health Organization — that Gilead Sciences’ drug remdesivir did not improve patients’ condition or reduce the coronavirus pathogen in their bloodstream. Those findings, according to the report, came from a clinical trial in China.
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