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Global markets fall after Moderna Omicron warning

  • Sun Online Desk
  • 1st December, 2021 04:55:41 PM
  • Print news

Stock markets around the world have fallen after the boss of Moderna cast doubts on the effectiveness of vaccines against the new Omicron Covid variant, BBC reported.

Stephane Bancel told the Financial Times he thought there would be a "material drop" in vaccine efficacy.

The Covid variant was first detected in South Africa, and the symptoms have been mild so far.

But travel restrictions have been imposed as a precaution by places including the UK, the EU and the US.

The falls also follow remarks by the chairman of the Federal Reserve suggesting that the emergence of the new variant would worsen uncertainty around the economic recovery and inflation.

The US market falls followed similar declines in Europe and Asia.