Moderna CEO warns Covid-19 shots less effective against Omicron, spooks markets

Moderna's CEO has warned that Covid-19 vaccines were unlikely to be as effective against the Omicron variant as they have been against the Delta version.

Drugmaker Moderna's CEO (MRNA.O) set off fresh alarm bells in financial markets on Tuesday after he warned that Covid-19 vaccines were unlikely to be as effective against the Omicron variant as they have been against the Delta version.

Crude oil futures shed more than a dollar, the Australian currency hit a year low, and Nikkei gave up gains as Stéphane Bancel's comments spurred fears that vaccine resistance could lead to more sickness and hospitalisations, prolonging the pandemic.