During periods of high market volatility, some traders will make a trade after an important news release. At 3:00 A.M. British Summer Time (BST), CNN released in a news report that the United States Food and Drug Administration (FDA) issued an emergency use authorization (EUA) for chloroquine and hydroxychloroquine to treat coronavirus patients.

Since the release occurred in the middle of the nighttime, it was only hours later that traders saw the good news.

Note 1: Prices from https://finance.yahoo.com/

Note 2: This comparison is for information purposes only.  It is not intended to be investment advice.  Seek a duly licensed professional for investment advice.