FDA advisory panel narrowly endorses Merck's oral Covid treatment pill, despite reduced efficacy and safety questions

FDA advisory panel narrowly endorses Merck's oral Covid treatment pill, despite reduced efficacy and safety questions This is a developing news story. Please check back for updates: https://www.cnbc.com/2021/11/30/fda-advisory-panel-narrowly-endorses-mercks-oral-covid-treatment-pill-despite-reduced-efficacy.html Follow @CNBCnow for breaking news and real-time market updates Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS

Major sell-off on Wall Street | Fed’s Powell on speeding the taper | Ray Dalio says cash isn’t a safe place

Stocks tumbled on Tuesday, reversing the prior session's gains.

VIEW IN BROWSER | SUBSCRIBE TUE, NOV 30, 2021 EVENING BRIEF AS OF TUE, NOV 30, 2021 • 04:53 ET DJIA 34483.72 -1.86% -652.22 S&P 500 4567.00 -1.90% -88.27 NASDAQ 15537.69 -1.55% -245.14   Most Active DOW NAME LAST CHG %CHG AAPL 165.30 +5.06 +3.16% INTC 49.20 -0.80 -1.60% VZ 50.27 -1.39 -2.69% S&P 500 NAME LAST CHG %CHG AAPL 165.30 +5.06 +3.16% T 22.83 -1.06 -4.44% F 19.19 -0.48 -2.44% NASDAQ NAME LAST CHG %CHG AAPL 165.30 +5.06 +3.16% AMD 158.37 -3.54 -2.19% NVDA 326.76 -7.00 -2.10%   EDITOR'S NOTE Stocks tumbled on Tuesday, reversing the prior session's gains.   The threat of the omicron Covid variant continued to rattle investors. Market participants were especially spooked when Federal Reserve Chair Jerome Powell told a Senate panel that he believes the central bank can taper its bond purchases at an even faster clip than the $15 billion-a-month schedule announced earlier in November.   "At this point, the economy is very strong and inflationary pressures are higher, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases … perhaps a few months sooner," Powell said. "I expect that we will discuss that at our upcoming meeting."   Expediting the removal of the Fed's easy policies tells investors that the central bank is focusing on addressing inflation, instead of new threats from the pandemic.   "Markets appear to be having trouble digesting the combo of elevated uncertainty around the impact of the Omicron variant and a hawkish Fed pivot in the context of persistently elevated inflation," said Gregory Daco, chief U.S. economist at Oxford Economics.   Tuesday also marked the final trading day of November. The volatile month left the Dow down 3.7% and the S&P 500 off by 0.8%. The Nasdaq Composite ended November higher, adding 0.25%. The small-cap benchmark Russell 2000 slipped nearly 4.3% in November, its worst month since March 2020 when the coronavirus crisis spurred the fastest bear market in history.   Still, the major averages are up solidly heading into the final month of 2021. The Dow has gained about 12.7% this year, and the S&P 500 has advanced nearly 21.6%. The Nasdaq Composite has rallied 20.5% in 2021. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow drops 650 points on growing omicron fears, Powell's taper comments Powell says Fed will discuss speeding up bond-buying taper at December meeting Fauci says omicron Covid variant has already been found in 20 countries, but not yet in the U.S. Elizabeth Warren ally Richard Cordray under discussion for Fed bank supervisor role, key senator says Ray Dalio says cash is not a safe place right now despite heightened market volatility Dr. Oz will run for Pennsylvania's open Senate seat as a Republican Why Apple is the only tech stock that's up today The Fed's next move could be a major risk to markets, as world awaits clarity on omicron variant Judges grill Trump lawyers trying to block Jan. 6 probe from getting White House records Elon Musk tells SpaceX employees that Starship engine crisis is creating a 'risk of bankruptcy'   TOP VIDEO Transports, financials and value stocks are where you want to be, says Sarat Sethi   CNBC PRO November options volume approaches record levels as speculative trading booms   SPECIAL REPORTS How to score a write-off on 'Giving Tuesday' if you don't itemize deductions Want to know how to keep employees from quitting? Ask what matters to them   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.