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Wall Street falls after JP Morgan's negative 2021 forecast


Wall street (Dow Jones -0.75%; S&P 500 -0.68%; Nasdaq -0.42%) ended Friday in the red. The main US stock exchanges have been hesitating all week between accepting the positive advances in vaccines or the increase in the outbreaks that continue to subject the country.

The positive note is put back Pfizer Y BioNTech, who have asked this Friday to the FDA the emergency authorization to use your vaccine in the US before the end of the year.

"In addition, we have already initiated the procedures to request authorization in Australia, Canada, Europe, Japan and the United Kingdom," the two companies said in a statement. "Later, we plan to do it in other countries," they advance.

In the American case, Pfizer and BioNTech hope to be able to start injecting their vaccine against the virus from mid to late December. "Based on our current projections, we expect to globally produce 50 million doses in the remainder of the year and 1.3 billion in 2021," both recall.

Despite advances in the vaccine, coronavirus cases continue to skyrocket and the economy is not immune to this situation. In fact, JP Morgan believes that the GDP of the United States will decline 1% during the first quarter of 2021. It is the first major bank to forecast declines in the economy next year.

The positive part of the estimates falls on the second and third quarters of 2020. The finance company predicts that the economy will expand rapidly during this period, exactly 4.5% and 6.5% respectively.

It is also weighing on the markets the disagreement between the Treasury Department and the Fed to continue funding some of the emergency programs implemented during the recession and boom of the pandemic. The US Secretary of the Treasury, Steven Mnuchin, has sent a letter to the Federal Reserve (Fed) in which he announces that he will let some aid programs designed during the pandemic expire at the end of the year since he considers that they have reached their objective.

On the other side of the Atlantic, the Ibex is close to 8,000 points supported by its steel companies and IAG. Finally, in Asia the stock markets have closed

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