Global market trades hit €1.7tn with vaccine news boost

Traders stampeded to the riskier plays in equities, foreign exchange and bond markets after Pfizer released positive data on its vaccine trial. File Picture: PA

News of a breakthrough in the race to find a Covid-19 vaccine sparked one of the heaviest trading days since the height of the pandemic crisis, according to early data analysed by Reuters, with nearly $2 trillion (€1.7tn) changing hands in one day. 

Traders stampeded to the riskier plays in equities, foreign exchange and bond markets after Pfizer released positive data on its vaccine trial, while rotating out of safe havens such as technology stocks, Japanese yen, and top-rated bonds.