| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3770 Registered: 05-2011 Rating: N/A |
World markets rattled by Moderna CEO's warning of efficacy against Omicron variant 1. The global equity markets are under heavy pressure to start the day. S&P Futures are down about 48 points to trade around the 4602 area. Markets fell out of bed following a story that surfaced that Moderna's CEO suggested its vaccine would not be as effective against the Omicron variant relative to the Delta variant. Spoos took a dive before putting in the low print of 4582.00. The high was set early in the session at 4667.50. 2. In Asia, China closed flat while Japan lost another 1.6%. The Shanghai staved off selling following a better than expected Manufacturing PMI. The November print rose to 50.1, up from last month's reading of 49.2 and topping the forecast of 49.6. In Japan, the negative sentiment stirred by the commentary from Moderna CEO weighed on the Nikkei. The yen is up 0.8% against the greenback in safe-haven flows. 3. In Europe, the major bourses are echoing the tone seen in Japan and the US. Although most sectors are deep in the red, automotive stocks are among the worst hit. Car makers such as Stellantis, Renault, Volkswagen and Daimler are down 2-4%. |