Vaccine maker stocks decline after Trump nominates RFK Jr. for health department role

Stocks of vaccine manufacturers dropped sharply on Thursday after President-elect Donald Trump nominated Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Kennedy is known for his skepticism about vaccines. Moderna's shares fell over 5%, Novavax dropped more than 7%, and Pfizer's stock decreased by over 2%. BioNTech and GSK also saw declines, with BioNTech down more than 6% and GSK roughly 2% lower. The decline in stock prices continued after Trump confirmed Kennedy's nomination on social media. Health experts have raised concerns that Kennedy's appointment could increase anti-vaccine sentiment in the U.S.