While there are just a few ways to revive the Russian financial market and economy, the US stock market is sensitive and positively reacts to foreign events.
Most analysts suppose that the recent Mr. Putin’s announcement became the main driver for the US stock indices. Russian President said that his country had registered the world’s first coronavirus vaccine.
Vladimir Putin promised a massive production of the vaccine, named Sputnik V, at the beginning of 2021. However, Russians did not react to such announcements as they know that their government regularly promises them the moon. At the same time, US citizens can be easily impressed and believe in almost everything.
As a result, the S&P 500 hit its record high followed by the Dow Jones industrial index and the NASDAQ technology sector index. Willing or not, Russia boosted the US stock indices despite sanctions and tensions with the West, including the US.
However, scientists and public health officials from all over the world believe that the potential vaccine still needs critical testing to determine whether it’s safe and effective. They also suppose that it is impossible to test the vaccine in such a short period of time. Moreover, mass vaccination may lead to serious consequences.
