PHILADELPHIA — Pharmaceutical companies are benefiting from the latest Ebola scare, with the stock market rising amid fears of more deaths.
The Nasdaq composite index climbed to an all-time high on Tuesday after the CDC said on Wednesday that nearly 6,000 new cases of Ebola have been confirmed in the U.S. and more than 1,100 deaths have been linked to the virus.
Shares of Turing Pharmaceuticals, the world’s largest generic drugmaker, jumped 6% to $8.15, or $11.06 a share.
The S&P 500 gained 1.3% to 1,938.50.
The Dow Jones Industrial Average rose 2.5% to 22,000.
The Nasdaq fell 5.2% to 6,527.08.
P. 500 is up 8.5%, or 1.1%, to 2,898.90.
The Russell 2000 is up 2.1%.
The Nasiff index of companies with a market value of more than $1 billion rose 6.3%, or 4.2%, to 5,982.30.
Stock markets in China and India are also seeing renewed investor interest.
The Shanghai Composite Index is up 7.2%.