Moderna, Novavax, and Other Vaccine Stocks Extending Losses

Moderna, Novavax, and Other Vaccine Stocks Extending Losses
The Moderna logo is seen at the Moderna campus in Norwood, Mass., on Dec. 2, 2020. Joseph Prezioso/AFP via Getty Images
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COVID-19 vaccine stocks are all retreating sharply for a second day running on Friday.

The U.S. Supreme Court on Thursday ruled against President Joe Biden’s quest to make it mandatory for large businesses employing over 100 people to have their staff vaccinated and undergo weekly testing. The mandate is a significant encroachment on the lives and health of a vast number of employers, the court said.