It has been a roller-coaster ride for investors as markets swung from all-time highs in late-2019 to a decade-low in March 2020.
Although it has been nearly eleven months since news of the first outbreak occurred, many companies are still struggling to cope with the economic fallout.
There’s reason to believe next year won’t be half as bad as this year has been.
The announcement of three vaccine candidates from three different pharmaceutical companies Pfizer (NYSE: PFE), Moderna (NASDAQ: MRNA) and AstraZeneca (LON: AZN) has lifted everyone’s spirits and injected a dose of much-needed optimism into the market.
It’s still early days in terms of the logistics, distribution and storage for these vaccines, but countries are already ordering them in bulk to be delivered by early 2021.
Assuming these vaccines do their job, a significant proportion of the world’s population will develop immunity to COVID-19.
The countries that are currently most infected, such as the US and Europe, can then ease lockdowns and reopen their borders....