Experts Warned Investors

Experts Warned Investors

A strategist warned that it is dangerous to invest in a “vaccine playbook” after the news flow from the pharmaceutical industry increased market volatility earlier this week. Speaking with CNBC's "Squawk Box Europe" on Wednesday, Kleinwort Hambros' chief market strategist, Fahad Kamal, said that his recent actions "show how dangerous it is to follow any vaccination book." Markets take placed higher level on Monday, after Biotechnology firm Moderna announced positive data about an trial for the covid-19 vaccine. However, after the vaccination experts were skeptical about Moderna's data, the focus was on economic damage from the crisis. Kamal noted that experts believe it would take at least 12 to 18 months to release a safe-to-use vaccine. "It seems that a few people who seem more optimistic than this have political agendas, and I can still say that we are still far from this," he told CNBC. President Trump voiced ambitions for a vaccine to be developed and distributed by the end of this year in a project called "Warp velocity operation." He said he was skeptical. Kamal also emphasized that a vaccine will not miraculously correct all the problems caused by the coronavirus outbreak.