Stocks of vaccine manufacturers plummet following Trump’s appointment of RFK Jr. to head HHS

On August 23, 2024, Robert F. Kennedy Jr. made ‍an appearance in Phoenix.

Photographed by Thomas Machowicz | Reuters

The nomination of⁣ Robert F. Kennedy Jr., a well-known vaccine skeptic, to head the Department of Health and Human Services by⁤ President-elect ‍Donald Trump caused a drop ⁤in⁣ the stock prices ‍of vaccine manufacturers on Thursday.

In the final hour ‌of trading, reports about Trump’s⁤ anticipated selection led to ‌a decline in stock prices. Moderna saw ⁤its stock decrease by over 5% on Thursday,‌ Novavax⁣ shares fell by more than 7%, and Pfizer’s stock closed more than 2% ⁣lower.

BioNTech, the German pharmaceutical company ⁢that collaborated with Pfizer ⁢on a Covid‌ vaccine, experienced a drop of⁤ over‍ 6% in⁣ its share price. British drugmaker GSK, known for producing flu shots ⁣and various vaccines, closed around 2% lower.

Following Trump’s‍ confirmation of‍ his choice on his⁤ Truth Social platform, the stocks of these companies continued to decline during extended trading hours.

Experts in health policy have expressed concerns‍ that if given a second term, ⁤Trump⁤ could empower Kennedy⁢ to promote anti-vaccine sentiments further which may discourage more Americans ⁢from getting vaccinated against Covid…

2024-11-14 17:05:08
Source from www.cnbc.com