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Global markets rocket higher on vaccine news, US election

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TOKYO (AP) — World markets rocketed higher after Pfizer said early data show its coronavirus vaccine is effective.

That added to investor relief that results from the U.S. presidential election were finally decided, with Joe Biden the president-elect.

Dow futures are up over 4% while major European indexes are up by over 5%.

Pfizer’s preliminary data suggests the company is on track this month to file an emergency use application with U.S. regulators for its vaccine.

A vaccine is still not likely much before the end of the year.

In the US election, investors are betting on continuity in tax and regulatory policies after Biden won the presidency but Republicans look set to control of the Senate.

By YURI KAGEYAMA AP Business Writer

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