US stocks opened in a fall on Tuesday (30) after vaccine manufacturers raised concerns about the effectiveness of vaccines already produced against the new variant of the coronavirus, Ômicron.
The Dow Jones retreated 0.63%, at 34,914 points, the S&P operated in a drop of 0.52%, at 4,630 points and the Nasdaq had a decrease of 0.31%, at 15,725 points, at 12:44 pm, Brasília time.
The lack of hard information so far is creating uncertainty, and with it, volatility in the US stock market grows. Moderna’s chief executive, Stéphane Bancel, for example, said the vaccine was probably not as effective against the new variant, raising concerns in the markets.
“I think there will be a fall. I just don’t know how much, because we have to wait for the data. But all the scientists I’ve talked to are like ‘this isn’t going to be good,’” Bancel told the Financial Times in an interview. In the pre-market, the company’s shares fell more than 3%.
“Markets are in a holding pattern where no one knows if this is going to be a problem or not,” Mike Bell, strategist at JP Morgan Asset Management, told The Wall Street Journal.
Also on investors’ radar is the speech by Jerome Powell, chairman of the Federal Reserve, about how Ômicron could affect the outlook for inflation and interest rate hikes in the United States.
The Fed chair said yesterday (29) that he continues to expect inflation to recede next year as supply and demand balance out, but warned that the new Covid-19 strain clouded the picture, and that prices could continue to rise. climb for longer than imagined before.
“It is difficult to predict the persistence and effects of supply constraints, but it now appears that factors driving inflation will persist into next year,” Powell argued. “[Mas] the economy continues to strengthen, and the job market to improve, raising wages”.
On the other hand, the President of the United States, Joe Biden, has good hopes for the future. He said last Monday (29) that the variant is not for panic, but for concern. “We have the best vaccines in the world, the best medicines and scientists, we learn every day and we are going to fight this variant with science and knowledge, not chaos and confusion,” he said.
To date there are no confirmed US cases of Ômicron.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
