The Dow Just Capped Off Its Best Month in 33 Years — Here’s What Happened

The Dow Jones Industrial Average fell more than 200 points to end November — but it still posted its biggest monthly gain in 33 years. At 4:00 p.m. ET on Monday, the blue-chip index dropped 271.73 points, or 0.91%, to close at 29,638.64. It soared nearly 12% in November to mark its best month since January 1987. The S&P 500 also slid 0.46%, or 16.72 points to 3,621.63, while the Nasdaq Composite sank dipped 0.1%, or 7.11 points, to 12,198.74. Still, both indices recorded their best month since April, when the coronavirus pandemic took hold across the United States. Throughout the month, investors appeared to cheer progress in the fight against COVID-19 as pharmaceutical giants touted the efficacy of their vaccine candidates. Today, reports emerged that pharmaceutical company Moderna intends to apply to the Food and Drug Administration for authorization of its vaccine, which it said was 94.1% effective at preventing the novel coronavirus and 100% effective at preventing severe cases of the illness. What’s more, data today from a number of research firms painted an encouraging picture for retail during the unprecedented holiday shopping season: According to Adobe Analytics, Americans spent about $9 billion shopping via websites on Black Friday — a

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