Trump nominates RFK Jr. to lead US health department, pharma stocks tumble

Donald Trump has nominated Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services. This decision has caused a significant drop in shares of major pharmaceutical companies, including Moderna and AstraZeneca, as investors react to RFK Jr.'s anti-vaccine stance. RFK Jr. is known for promoting health-related conspiracy theories and has previously linked vaccines to autism. His nomination has raised concerns about potential changes in health policy, including proposals to ban certain food additives and chemicals. Shares in several pharmaceutical firms fell sharply following the announcement, with Moderna down 5% and BioNTech down 7%. Critics have expressed alarm over RFK Jr.'s views, fearing negative impacts on public health initiatives.