Moderna shares drop as Trump nominates Kennedy for health department role

Moderna Inc. shares fell 6.16% to $37.33 following President-elect Donald Trump's nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Kennedy is known for his criticism of vaccines, raising concerns among investors. Speculation about potential reforms at federal health agencies, including budget cuts and staff reductions, has created unease. Employees at the FDA and NIH are reportedly considering resignations due to fears about Kennedy's policies. The uncertainty surrounding federal health policies is impacting vaccine developers like Moderna, which depend on government support and public trust. This has led to a sell-off in Moderna and other vaccine stocks.