Shares of vaccine makers, including Moderna Inc MRNA, BioNTech SE - ADR BNTX and Novavax, Inc. NVAX, are trading lower. Move is possibly in reaction to a recent Israeli study showing four doses of Pfizer Inc. PFE and BioNTech's vaccine were not sufficient to prevent infection with the Omicron variant of COVID-19.
The vaccine sector is also trading lower as the sector continues to pull back following 2021 strength, with investors continuing to weigh sector outlook going into 2022. The US Supreme Court last week blocked President Biden's workplace vaccine-or-test mandate for larger employers.
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The broader market is also experiencing a pullback and trading lower Monday after the 10-year US Treasury yield reached a two-year high, which has pressured valuations.
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