By David Randall NEW YORK (Reuters) – A 4 percent decline in biotechnology stocks on Wednesday sent the Nasdaq Composite Index <.IXIC> to its largest one-day loss in nearly a year, and some investors are betting that the once-hot sector has further to fall. Short interest has risen in a number of biotech names perceived Read More
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REUTERS/Toby Melville The S&P 500 fell for a fourth straight day, wiping out gains for the year in a choppy trading session. First, the scoreboard: Dow: 17,678.23 -40.31 (-0.23%) S&P 500: 2,056.15 -4.90 (-0.24%) Nasdaq: 4,863.36 -13.16 (-0.27%) And now, the top stories on Thursday: Initial jobless claims fell to 282,000 Read More
Stocks were on track for a fourth-straight down day Thursday amid renewed concerns about the Middle East. U.S. crude futures jumped nearly 3% and back above $ 50 as long-simmering tensions between Saudi Arabia and Iran morphed into a proxy war in Yemen. In recent trading, the S&P 500 was down 0.7% and in negative Read More
Asian equities were mostly lower on Thursday following a sharp selloff on Wall Street overnight and an escalation of political turmoil in Yemen. Technology shares led the declines following a more than 2 percent slide on the Nasdaq Composite (NASDAQ: .IXIC). The biotech and semiconductor sector bore the brunt of losses overnight, with analysts citing Read More
Don’t abandon biotech after it helped send U.S. markets reeling on Wednesday, CNBC “Fast Money” traders said. “I’m still a believer in biotech,” said trader Guy Adami. The Nasdaq (NASDAQ: .IXIC) was the biggest loser in Wednesday’s broad selloff, shedding more than 2 percent. The iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) dropped more than 4 Read More
REUTERS Stocks collapsed and the dollar fell, with biotechs taking a pause from a huge rally in trading on Wednesday. First, the scoreboard: Dow: 17,718.5, -292.6, (-1.6%) S&P 500: 2,061, -30.5, (-1.5%) Nasdaq: 4,876.5, -118.2, (-2.4%) And now, the top stories on Wednesday: Warren Buffett’s Berkshire Hathaway and 3G Capital are Read More
By Rodrigo Campos NEW YORK (Reuters) – U.S. stocks fell on Wednesday, with losses accelerating after short-term technical indicators failed and after a gauge of industrial orders that unexpectedly fell last month. Losses on the S&P 500 accelerated around mid-session after the benchmark dropped below a support level near 2,085. An index of biotechnology shares Read More
The major stock indices (^DJI, ^IXIC, ^GSPC) all trading lower today. Keith Bliss of Cuttone and Company says an oversold U.S dollar is to blame for today’s moves. He notes that “inconsistent performance of the U.S. economy based upon the recent data,” isn’t helping matters either. Here are some other stories Yahoo Finance is keeping Read More
Flickr / Michael Napoleon Stocks slid into the close, reversing earlier gains in trading as the Nasdaq fell back below the 5,000 level and the S&P 500 fell below 2,100. First, the scoreboard: Dow: 18,021.9, -04, (-0.5%) S&P 500: 2,092.4, -12, (-0.6%) Nasdaq: 4,995.9, -15, (-0.3%) And now, the top stories: In Read More
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks fell for a second straight session on Tuesday, with equities maintaining a tight range that corresponded with currency fluctuations as traders focused on the dollar’s strength and its possible effect on corporate earnings. Data from home sales to inflation and manufacturing indicated the U.S. economy remains Read More