Markets surge on vaccine optimism

Markets are roaring following a breaking development in the race for a Covid-19 vaccine. Pfizer and BioNTech announced that their vaccine was more than 90 percent effective in preventing Covid-19 in patients who had not previously had the virus. Plus, now that Joe Biden has emerged as the victor in the US presidential election, there will be new policies affecting international trade. Meanwhile, the European Union said it will impose tariffs on US goods and services.