Biotech swoons with broader markets

Biotech did not avoid the equity hosing on Friday that was brought on by the next wave of earnings warnings led by data storage play EMC. The BioCentury 100 Index fell 3%, which was less severe than the 4% drop in the NASDAQ. The BC100 advance-decline ratio was ugly too, with only 8 biotechs trading up in Friday's session and 89 companies in the red. The DJIA and the S&P 500 both were off 2% on the day. ...