Stocks fell Wednesday afternoon, reversing most of the gains made earlier after Pfizer (PFE  ) released the final data on its vaccine candidate with BioNTech (BTNX  ), which new demonstrates a revised efficacy of 95%. The company's also have enough safety data to apply for an emergency use authorization with the U.S. Food and Drug Administration. Yet, all that positive vaccine news was shattered by new coronavirus restrictions initiated by New York City during late afternoon trading.

New York City Major Bill de Blasio announced on Wednesday that the city's schools will be shifting back to remote learnings amid the city's current climbing infection rate. De Blasio tweeted that the city "has reached the 3% testing positivity 7-day average threshold. Unfortunately, this means public school buildings will be closed as of tomorrow, Thursday Nov. 19, out [of] an abundance of caution. We must fight back the second wave of COVID-19."

Here's how the market settled for the mid-week:

S&P 500 Index (SPY  ): -1.16% or -41.74 points to 3,537.79

Dow Jones Industrial Average (DIA  ): -1.16% or -344.93 points to 29,438.42

Nasdaq Composite Index (QQQ  ): -0.82% or -97.74 points to 11,801.60

For Stocks, Boeing (BA  ) shares soared on Wednesday after the U.S. Federal Aviation Administration lifted the 737 Max's fight ban following a nearly two-year grounding after two deadly crashes. Stay-at-home names shifted from red to green after NYC's announcement: Peloton (PTON  ), Shopify (SHOP  ), TelaDoc (TDOC  ) and Zoom Video (ZM  ).

For Sector Performance, every industry dropped amid the market's broad sell-off on Wednesday following New York City shutting down in-person schools. Cyclical sectors like Industrials (XLI  ) and Consumer Discretionary (XLY  ) declined the least. Energy (XLE  ), which continues to swing between highs and lows, declined the most despite crude future gains. Utilities (XLI  ), Health Care (XLV  ), Real Estate (XLRE  ), Consumer Staples (XLP  ) and Information Technology (XLK  ) also led loses over 1%.

For Commodities and Currency, the U.S. Dollar (UUP  ) fell for a fifth straight session on Wednesday as positive vaccine news offset negative coronavirus infection patterns and harsher economic restrictions across the U.S. and Europe. The dollar index, which measures the greenback against other global currencies, fell 0.1% to 92.298, after dropping as low 92.207 on Wednesday. Gold (GLD  ) prices declined on Wednesday as vaccine optimism continued despite alarming pandemic trends. Spot gold was down 0.3% to $1,872.38 per ounce, while gold futures settled 0.6% lower at $1,873.90 per ounce. Crude oil futures rose on Wednesday as traders bet that OPEC+ will delay a planned increase in oil output to met current demand trends. International benchmark Brent Crude (BNO  ) gained 1.6% to $44.45 per barrel, while West Texas Intermediate (USO  ) rose to a 11-week high of $41.82 per ounce.

For Thursday, market participants will turn their attention towards fresh data on U.S. unemployment claims, which are expected to total 710,000. Coronavirus headlines will also continue to command market direction.