Shares of vaccine makers, including Moderna Inc (NASDAQ:MRNA), BioNTech SE - ADR (NASDAQ:BNTX) and Novavax, Inc. (NASDAQ:NVAX), are all 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 today blocked President Biden's workplace vaccine-or-test mandate for larger employers.
Shares of some growth stocks have been pulling back in recent sessions following a reaction last week to minutes from the FOMC meeting. Minutes showed most Fed members viewed conditions for rate hikes as potentially being met relatively soon.
The 10-year Treasury yield hit an intraday high of 1.761% Thursday afternoon. Overall market volatility is persistent again during Thursday's session as investors continue to weigh omicron concerns.
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Moderna shares otherwise saw strength during Monday's session, trading higher following the company's pipeline update at the JP Morgan Healthcare Conference. The company also announced a collaboration with Carisma for cancer therapeutics.
