Market Moves: Moderna Tumbles on Regulatory Fears While Synopsys Rides Nvidia Partnership
U.S. equities opened December with declines as vaccine stocks faced regulatory headwinds and tech partnerships drove selective gains. The Nasdaq slipped 0.4%, while the S&P 500 and Dow fell 0.5% and 0.9% respectively.
Moderna led losers with a 7% plunge after reports of impending FDA vaccine approval reforms. The proposed changes WOULD require more rigorous safety and efficacy data, potentially lengthening the approval process for COVID-19 vaccines and related products. Peer manufacturers Novavax, BioNTech, and Pfizer followed downward.
Synopsys emerged as a standout performer, surging on news of its collaboration with Nvidia. The semiconductor design software firm stands to benefit from the AI chipmaker's industry dominance, showcasing how strategic partnerships continue reshaping tech valuations.
