Biotech weathers selloff

The BioCentury 100 Index dropped 0.6% on Tuesday - far better than the NASDAQ's 2.7% dip and the DJIA's 1.4% tumble -- after the Federal Reserve Board offered little hope that the economy is improving through its seventh interest rate cut of the year. While the quarter-point cut was expected, it did little to allay investor concerns over business conditions, as the Fed warned that profits and capital spending continue to weaken. ...