NEW YORK (Reuters) – Oil prices slid and global stock benchmarks fell Tuesday after a warning from drugmaker Moderna that existing vaccines are unlikely to be effective against the new coronavirus variant pushed investors into safe havens such as Treasury bonds and the yen.
“There is no world, I think, where (the effectiveness) is the same level,” Moderna’s chief executive Stephane Bancel told the Financial Times in an interview.
“I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to . . .are like ‘this is not going to be good’,” Bancel said.
