Moderna warning that jabs won’t stop Omicron sends markets into free fall
CEO says it’s unlikely the shots will be as effective against the new variant as they were against Delta
Drugmaker Moderna’s CEO set off fresh alarm bells in financial markets on Tuesday after he warned that Covid-19 vaccines were unlikely to be as effective against the Omicron variant as they have been against Delta.
Crude oil futures shed more than a dollar, the Australian currency hit a year low and Nikkei gave up gains as Stéphane Bancel’s comments spurred fears that vaccine resistance could lead to more sickness and hospitalisations, prolonging the pandemic.
“There is no world, I think, where (the effectiveness) is the same level ... we had with Delta,” Bancel told the Financial Times...