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Article: Biotech Takes It on the Chin in October.
- Article from:
- Cancer Weekly
- Article date:
- November 17, 2009
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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 (see also Biotechnology Business).
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 saw ...