Trump’s Appointment of RFK Jr Pulls Pzifer, Moderna Stocks Downhill

Pooja Rajkumari | November 15, 2024

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The World Health Organization (WHO) on Friday described vaccines as “absolutely critical” to global health, adding that many people alive today would not have survived childhood without them. This comes at after Donald Trump‘s announcement of Robert F. Kennedy Jr. as Health Secretary.

What Happened: As per Benzinga Pro on Friday, health stocks declined further during pre-market hours. Pfizer Inc. (NYSE:PFE) saw a 0.58% drop after closing 2.62% lower at $26.02. Moderna Inc (NASDAQ:MRNA) was down by 1.56% while AstraZeneca plc (NASDAQ:AZN) fell by 1.41%, and Novavax Inc. (NASDAQ:NVAX) decreased by 1.39%, having already dropped 7.02% to $7.22.

While the spokesperson for WHO did not comment on Kennedy Jr’s appointment directly, she mentioned that the U.S. is an important United Nations member and hoped the “fantastic work”  would continue, as per BBC news.

Trump’s decision to appoint Kennedy, known for his vaccine skepticism and conspiracy theories has sparked significant attention. The move aligns with Kennedy’s recent endorsement of Trump after ending his presidential bid.

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Why It Matters: The appointment of Kennedy, a prominent critic of vaccines, as Health Secretary could signal a shift in national health policies. Trump’s choice has elicited mixed reactions, particularly among public health experts. Kennedy’s stance on vaccines may influence future health regulations and policies.

Kennedy’s views on vaccines and health agencies diverge sharply from mainstream medical consensus. He has consistently propagated debunked claims, including the false assertion that vaccines cause autism—a theory discredited by extensive scientific research. His nomination for HHS secretary comes amid declining vaccination rates, which have contributed to public health challenges such as 13 measles outbreaks reported in the U.S. this year.

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