Omicron Effect: Doubts Over Moderna Vax Efficacy Roil Mkts
The Times of India Delhi|December 01, 2021
Sensex Drops 1300 Pts From Intra-Day High

Mumbai: The sensex witnessed extreme volatility on Tuesday but ended marginally lower as comments about the Omicron variant of the Covid virus left investors across the globe jittery.

The markets started on a strong note after US President Joe Biden said the new variant was a cause for concern but not panic. The sensex was up about 900 points. The mood, however, changed soon after the chief of Moderna, the US drug maker whose Covid vaccine is widely used around the world, said the existing vaccines may not be as effective against Omicron variant.

As a result, the sensex lost over 1,300 points (about 2.2%) from its intra-day high at 58,184 to 56,868.

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