Robert F. Kennedy Jr."s nomination as secretary of health has caused healthcare stocks to drop, particularly affecting vaccine manufacturers like Moderna and Pfizer. Analysts express uncertainty about his potential impact on the sector, especially regarding vaccine policies and obesity treatments, while noting that large-cap stocks may have room for future growth. Kennedy"s views on drug pricing and oversight of Medicare and Medicaid could also reshape negotiations with pharmaceutical companies.
US markets are experiencing declines, with the SMI in the red, driven by muted expectations for interest rate cuts and concerns over President-elect Trump's personnel policy. Federal Reserve Chairman Jerome Powell dampened hopes for immediate rate reductions, with a December cut now seen at a 60% probability, down from 80% a month ago. Additionally, the appointment of Robert Kennedy Jr. as the new Secretary of Health and Human Services has unsettled investors, while Applied Materials' bleak outlook has disappointed technology stocks.
The SMI index is down, driven by declines in Lonza and Roche, while Sunrise attracts attention. The dollar weakens against the franc amid reduced expectations for interest rate cuts, following comments from Fed Chairman Jerome Powell. Market jitters also stem from Robert Kennedy Jr.'s appointment as Secretary of Health and Human Services and a disappointing outlook from Applied Materials affecting tech investors.
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