Zhitong Financial APP learned that the global market fell sharply in intraday trading under the influence of Modena CEO's speech. Dow futures fell more than 1%, S & P 500 index futures fell 0.9%, and Nasdaq futures fell 0.6%. Oil futures of the United States and Brazil fell 2% on the day. The Hang Seng Index fell more than 600 points in the afternoon and continued to refresh its new low for the year. As of press time, the Hang Seng Index fell 622.01 points, or 2.61%, to 23230.23 points, with a market turnover of HK $106.806 billion.

In terms of blue chips, a number of constituent stocks fell by more than 4%. As of press time, China Resources Land (01109) fell 5.98% to HK $32.25; Sands China (01928) fell 5.35% to HK $17.68; BABA-SW (09988) fell 4.69% to HK $123.9; and HKEx (00388) fell 3.64% to HK $428.8.

On the news side, Modena CEO predicts that the existing vaccine will be far less effective against the mutated strain Omicron; it will take months for pharmaceutical companies to mass produce a new vaccine against the strain. "I don't think there is any [vaccine] that has the same level of effectiveness, and this is going to be a substantial decline," Modena CEO said. I don't know how much it will drop, because we still need to wait for the data. "