BioCentury
ARTICLE | Finance

Election week dips

Election week: Biotech stocks see smaller drop than overall market

November 12, 2012 8:00 AM UTC

Biotech indices slipped along with the broader U.S. markets in the wake of the U.S. presidential election last week on concerns over the looming "fiscal cliff" in Washington. The question is which post-election trajectory the group will follow.

The BioCentury 100 Index shed 2% from Wednesday to Friday last week. For the same time period, the NYSE Arca Biotechnology Index and the NYSE Arca Pharmaceutical Index were off 1%, while the NASDAQ Biotechnology Index dropped 2%...