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  • President Biden 'COVID-19 pandemic is over', market value of COVID-related companies falls = Korea
President Biden 'COVID-19 pandemic is over', market value of COVID-related companies falls = Korea
The market capitalization of COVID-19 vaccine companies fell by about $10 billion on the U.S. stock market after President Biden said the pandemic was over.

According to the Financial Times on September 19th (local time), vaccine-related pharmaceutical companies such as Moderna (-7.14%), BioEntech (-8.6%), Novavax (-6.51%), Pfizer (-1.28%), etc. Stock prices plummeted. The market value of vaccine companies also fell by about $10 billion. Only Pfizer, which handles a wide range of products other than vaccines, experienced a smaller decline.

This is because President Biden said in an interview on CBS the day before, "We still have corona-related problems, but many things are back to normal. The pandemic is over," effectively declaring the end of the pandemic. seem to have been affected.

The interview aired over the weekend on Sunday, and investors dumped coronavirus-vaccine stocks when the market opened on Monday.

Even within the U.S. government, the atmosphere was similar to that of President Biden. The U.S. government redesignated the resurgence of the coronavirus as a public health emergency in July. But some officials appeared less concerned, downgrading their assessment of the reproliferation threat, according to the Financial Times.

Meanwhile, health experts strongly criticized President Biden for "declaring victory too early." More than 400 people still die from COVID-19 every day, and vaccination is still necessary.

The White House then rushed to put out the fire. A White House official told CNN on the same day, "The president's remarks are not a change in government policy in response to the virus. There is no plan to end the public health emergency."

Published : 2022/09/23 09:52 KST

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