New York City's new vaccine program sends restaurant and gym stocks below. Shares of Shake Shack Starbucks McDonalds and Planet Fitness dipped all after news that the Big Apple will require proof of vaccination to eat inside or use indoor work-out facilities.
Both workers and customers will need to show vax ID cards in order to enter restaurants or fitness facilities. 'If you want to participate in our society fully, you have got to get vaccinations, Mayor Bill de Blasio said during a press conference. 'The only way to patronize these restaurants is when you are vaccinated, at least one dose. The same in terms of work, they will need at least one dose, he added. 'It's time for people to see vaccine as absolutely necessary to living a good and long life, full and healthy.
Various businesses have already implemented their own vaccination initiative. The owner of Equinox gyms and SoulCycle studios announced this week that it will force all employees and members to show proof of jabs starting in September.
NEW YORK - DECEMBER 02: A person carries a Shake Shack takeout bag in New York City as the city continues the re-opening efforts following restrictions imposed to slow the spread of coronavirus on December 02, 2020 in Herald Square. The pandemic has caused long-term repercussions throughout the tourism and entertainment industries, including permanent closures of historical and iconic sites, costing cities and businesses billions in revenue.
In other industries, major companies have been announcing mandatory requirements for workers to be vaccinated prior to returning to office. Amazon Alamo announced such mandates today.
Several delays in the COVID 19 Delta variant have delayed plans for full office openings. Microsoft confirmed a full re-opening of the company's US work sites would take place no sooner than October 4th, 2007.
Ines covers the U.S. stock market.