{"id":73133,"date":"2026-10-16T10:38:12","date_gmt":"2026-10-16T14:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/"},"modified":"2026-10-16T10:38:12","modified_gmt":"2026-10-16T14:38:12","slug":"market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/","title":{"rendered":"Market Pulse: Moderna Slumps as S&#038;P 500 Laggard; Saudi Coalition Intercepts Missile Salvo"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#Moderna_Leads_S_P_500_Decline\" >Moderna Leads S&amp;P 500 Decline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#Saudi_Coalition_Thwarts_Multi-Pronged_Attack\" >Saudi Coalition Thwarts Multi-Pronged Attack<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#NatWest_Exits_Primary_Dealer_Status\" >NatWest Exits Primary Dealer Status<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#Lufthansa_Eyes_E1_Billion_Software_Divestment\" >Lufthansa Eyes \u20ac1 Billion Software Divestment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-pulse-moderna-slumps-as-s-saudi-coalition-intercepts-missile-salvo\/73133\/#US_Authorizes_Venezuela_Earthquake_Relief\" >U.S. Authorizes Venezuela Earthquake Relief<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> shares plummeted <strong>12%<\/strong>, making it the worst performer in the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> on Friday following analyst downgrades and valuation concerns.<\/li>\n<li>The <strong>Saudi-led coalition<\/strong> successfully intercepted a <strong>ballistic missile<\/strong> targeting Yanbu, alongside two cruise missiles and three drones, amid escalating regional tensions.<\/li>\n<li><strong>NatWest (<a href=\"\/stock\/NWG\">NWG<\/a>)<\/strong> has officially withdrawn as a <strong>primary dealer<\/strong> for the <strong>New York Fed<\/strong>, marking a strategic retreat from the U.S. and European government bond markets.<\/li>\n<li><strong>Lufthansa (<a href=\"\/stock\/LHA\">LHA<\/a>)<\/strong> is exploring a sale of its software assets, including <strong>Lufthansa Systems<\/strong>, in a deal potentially valued at <strong>\u20ac1 billion<\/strong>.<\/li>\n<li>The <strong>U.S. Treasury<\/strong> issued a general license authorizing transactions for <strong>earthquake relief in Venezuela<\/strong>, providing a humanitarian carve-out from existing sanctions.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Moderna_Leads_S_P_500_Decline\"><\/span>Moderna Leads S&amp;P 500 Decline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shares of <strong>Moderna (<a href=\"\/stock\/MRNA\">MRNA<\/a>)<\/strong> dropped as much as <strong>12%<\/strong> in intraday trading on Friday, securing its position as the steepest decliner in the <strong>S&amp;P 500<\/strong>. The sell-off was triggered by a combination of profit-taking after a massive 2026 rally and a cautious note from <strong>Goldman Sachs<\/strong>, which maintained a Neutral rating despite raising its price target. Analysts at <strong>Citigroup<\/strong> also recently issued a Sell downgrade, suggesting that the stock&#39;s valuation had become overextended relative to its oncology pipeline fundamentals.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Saudi_Coalition_Thwarts_Multi-Pronged_Attack\"><\/span>Saudi Coalition Thwarts Multi-Pronged Attack<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Saudi-led coalition<\/strong> announced on Friday that its air defense systems intercepted and destroyed a <strong>ballistic missile<\/strong> launched toward the industrial port city of <strong>Yanbu<\/strong>. Additionally, the coalition reported the destruction of <strong>two cruise missiles<\/strong> over the Red Sea and <strong>three drones<\/strong> targeting the southern region and Riyadh. This latest escalation follows a series of strikes on energy facilities and airports, keeping regional security risks and oil market volatility at the forefront for investors.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NatWest_Exits_Primary_Dealer_Status\"><\/span>NatWest Exits Primary Dealer Status<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Federal Reserve Bank of New York<\/strong> confirmed that <strong>NatWest (<a href=\"\/stock\/NWG\">NWG<\/a>)<\/strong> is no longer a primary dealer, effective immediately. This move follows the bank&#39;s broader strategy to simplify its market operations and focus on its core UK business. While <strong>NatWest<\/strong> will remain a primary dealer in the UK gilt market, its withdrawal from the U.S. and European sovereign debt programs reflects a trend of mid-tier banks retreating from balance-sheet-intensive market-making roles.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lufthansa_Eyes_E1_Billion_Software_Divestment\"><\/span>Lufthansa Eyes \u20ac1 Billion Software Divestment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Lufthansa (<a href=\"\/stock\/LHA\">LHA<\/a>)<\/strong> is reportedly working with bankers to explore the sale of its IT service assets, according to reports from the <em>Financial Times<\/em>. The potential <strong>\u20ac1 billion<\/strong> deal would involve units of <strong>Lufthansa Systems<\/strong>, such as <strong>Lido<\/strong> and <strong>NetLine<\/strong>, which provide flight planning and navigation services. The divestment is part of a larger effort to offload non-core assets as the carrier integrates its newly acquired stake in <strong>TAP Air Portugal<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Authorizes_Venezuela_Earthquake_Relief\"><\/span>U.S. Authorizes Venezuela Earthquake Relief<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>U.S. Department of the Treasury&#39;s Office of Foreign Assets Control (OFAC)<\/strong> has issued <strong>General License 60<\/strong>, authorizing transactions otherwise prohibited by sanctions to facilitate <strong>earthquake relief<\/strong> in <strong>Venezuela<\/strong>. The license allows for the provision of humanitarian aid and the processing of payments related to disaster recovery efforts following a pair of devastating earthquakes. This authorization is currently set to remain in effect through <strong>October 23, 2026<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Moderna (MRNA) shares plummeted 12%, making it the worst performer in the S&amp;P 500 on Friday following analyst [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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