Moderna warning that jabs won’t stop Omicron sends markets into free fall

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CEO says it’s unlikely the shots will be as effective against the new variant as they were against Delta

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Drugmaker Moderna’s CEO set off fresh alarm bells in financial markets on Tuesday after he warned that Covid-19 vaccines were unlikely to be as effective against the Omicron variant as they have been against Delta.

Crude oil futures shed more than a dollar, the Australian currency hit a year low and Nikkei gave up gains as Stéphane Bancel’s comments spurred fears that vaccine resistance could lead to more sickness and hospitalisations, prolonging the pandemic...A subscription gives you full digital access to all Sunday Times content.Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

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