Market Reacts to Kennedy's Nomination

In a move that sent ripples through the pharmaceutical sector, shares of leading vaccine manufacturers Moderna, Pfizer, and BioNTech experienced a notable decline. This market reaction followed the Senate Finance Committee's decision to advance Robert F. Kennedy Jr.'s nomination for the position of Health and Human Services secretary.

Controversial Pick Moves Forward

The committee's 14-13 party-line vote has propelled Kennedy, a figure known for his vaccine skepticism, closer to the Senate floor. His previous comments on vaccine safety have sparked significant debate and criticism.

Impact on Vaccine Makers

By 10:41 am ET, the financial impact was clear: Moderna's stock fell by 5.11% to $34.68, BioNTech saw a 2.97% drop to $116.26, and Pfizer's shares decreased by 1.77% to $25.73.