3 sources·Business

U.S. Stocks Plunge as Vaccine Makers Fear Trump Administration's HHS Nominee

Wall Street experiences significant losses fueled by concerns over Donald Trump's nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services.

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Updated: Nov 15th, 2024, 9:39 PM ET

Summary

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U.S. stocks faced their steepest decline since Election Day, with the S&P 500 dropping 1.3% as fears over President-elect Trump's nomination of vaccine skeptic Robert F. Kennedy Jr. to head HHS impacted vaccine manufacturers and the broader market. Vaccine stocks plunged, contributing to a general market downturn, particularly in technology and biotech sectors. This follows a post-election rally that has now faded, raising concerns about potential policy shifts and their effect on interest rates. Comments from Federal Reserve officials about a cautious approach to rate cuts further influenced investor sentiment, leading to increased volatility in stock trading.

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U.S. Stocks Plunge as Vaccine Makers Fear Trump Administration's HHS Nominee - Pano News