President Donald Trump announced Robert F. Kennedy Jr. as his nominee for Secretary of Health and Human Services, sparking significant market reactions. Shares of major vaccine makers, including Moderna, Pfizer, and Novavax, fell sharply as Kennedy’s appointment raised concerns in the pharmaceutical industry.

Known for his skepticism of vaccines, Kennedy has promised to investigate their safety and efficacy but emphasized he will not remove public access to vaccinations.

Industry leaders worry his controversial stance could influence public health policies, while vaccine stocks have already been struggling amid declining pandemic demand.