Why BioNTech and Moderna Stocks Are Slipping Today

Shares of BioNTech (NASDAQ: BNTX) were down 5.3% as of 10 a.m. EDT on Tuesday. Meanwhile, shares of Moderna (NASDAQ: MRNA) were slipping 2.7%.

There appear to be two common denominators between the declines of these two vaccine stocks. First, the overall stock market fell this morning. Second, the Israeli Health Ministry announced that the COVID-19 vaccine developed by Pfizer (NYSE: PFE) and BioNTech appears to be less effective against the Delta variant, a coronavirus strain that's spreading rapidly.

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Source Fool.com