Dow Futures Fall Sharply 372pts as Moderna Predicts Less Vaccine Efficacy against Omicron

Dow Jones Futures plunged abruptly by 372 points or 1.06% after the Financial Times released their interview with Moderna’s CEO Stéphane Bancel who predicted that existing vaccines will be less effective against the Covid-19 omicron variant.

 

As of 12:54 local time in Thailand, Dow Jones Futures dropped 372.1 points or 1.06% to 34,763.80 points. Meanwhile, S&P 500 Futures fell 0.88% and Nasdaq slipped 0.54%.

 

In the interview with Financial Times, Moderna’s CEO predicted that existing vaccines will be much less effective against omicron than earlier strains and warned that it would take months before drugmakers can manufacture new variant-specific vaccines at scale. Bancel also suggested that the current vaccines may need to be modified next year due to the high mutation of the virus.