Kennedy Nomination Causes Pharma Stocks to Plunge

Global pharmaceutical and vaccine company stocks have significantly dropped following President-elect Donald Trump's announcement of Robert F. Kennedy Jr. as the nominee to head the Department of Health and Human Services (HHS). Kennedy, known for his vocal skepticism about vaccines and past dissemination of misinformation linking vaccines to autism, has alarmed investors and public health officials. This announcement led to a sharp decline in shares of major vaccine producers such as Moderna, Pfizer, and BioNTech, with BioNTech's share price experiencing one of its biggest single-day falls. Pharmaceutical stocks like those of Eli Lilly and AstraZeneca also saw substantial decreases. Concerns have arisen about the potential impact of Kennedy’s leadership on vaccine regulation and public vaccine sentiment, given his previous criticism of the pharmaceutical industry and advocacy for alternative health solutions. The broader impact has been seen in the healthcare sector's poor performance, reflecting investor unease over potential policy shifts under Kennedy's direction.