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Article: Biotech Takes It on the Chin in October.
- Article from:
- PR Newswire
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO, Nov. 2 /PRNewswire/ -- It was a turbulent month as stocks values waxed and waned throughout culminating in a dramatic plunge on the last trading day of October as a report about a drop in consumer spending fueled worries that the economic recovery wouldn't be sustainable. The drop served to erase the previous day's big gains.
Biotech's steady improvement during the third quarter also came to an abrupt stop with the Burrill Biotech Select Index posting a 10 percent fall in value in October in contrast to the Dow, which finished unchanged and the NASDAQ, which fell 3.6 percent in value.
Almost all members of the Burrill Biotech Select Index ...