Vaccine Shares Soar As Dow Drops 1,000 Points, Oil Tumbles Over New Covid Variant Concerns

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Shares of Covid-19 vaccine makers rose on Friday as oil and stocks marked their worst day of the year, as fears of a new, possibly vaccine-resistant version of the coronavirus sent shockwaves through global markets and spread across the globe. Triggered new travel restrictions in the

important facts

Shares of Moderna, BioNTech and Pfizer — which make up the most widely used coronavirus vaccines in the Western world — jumped 27.8%, 21.9% and 5.6%, respectively, on Friday morning.

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Vaccine makers also did well with products undergoing testing or review, with shares of Novavax jumping 10.4%, Inovio Pharmaceuticals by 5.3% and Vaxert 4.1%.

Oil prices fell more than 10%, the asset’s worst day in 2021 and its biggest one-day drop since spring 2020, According Global benchmark Brent crude was down 10.7% and US West Texas Intermediate crude by 11.6%, to Reuters.

The Dow Jones Industrial Average 1,000 points or . Major US market indices fell after news of the new edition with 2.8%, the worst day of the year, the S&P 500 up 2.2% and the Nasdaq 2%.

Global indices also fell, with Japan’s Nikkei 225 and Hong Kong’s HSI both falling over 2.5% and the FTSE100, France’s CAC40 and Germany’s DAX falling between 3.6% and 4.9%.

Safe haven assets have also benefited from the slowdown Sleep Yields up 0.6% and on US 10-year Treasury notes—which move inversely to prices—it’s falling From 1.64% to 1.5% before Thanksgiving.

main background

Researchers this week detected a new type of coronavirus in South Africa, raising concerns around the world that it could spark new outbreaks and hinder economic recovery and efforts to contain the virus. The variant, b.1.1.529, carries a much higher number of mutations, including more than 30 on the spike protein, which many vaccines train the immune system to target. Experts believe it could possibly evade the immunity given by vaccines and be more contagious Compared to other circulating types, including the highly infectious delta variant. The World Health Organization has called a meeting to discuss the new strain and governments around the world have moved swiftly to ban travel from parts of the South African region, including the UK, France, Italy, Germany, Israel and Japan. . It has been identified in parts of Africa, Asia and Europe. To appear To replace the delta version and drive an alarming surge of infections in South Africa’s Gauteng province and Botswana.

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Vaccine maker BioNtech said It’s finding out whether the new version means changes to its vaccine should be made. More data on this is expected in two weeks, the company said in a statement, Reuters reported.

Travel ban, stock down: Here’s what to know about the new highly mutated Covid version (Businesshala)

Heavily mutated coronavirus variant puts scientists on alert (Nature)


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