Biotechs' weak year ends

Biotech stocks finished their disappointing year by falling 11% in 4Q16. The BioCentury 100 ended the year down 1,474.40 (23%) to 4,834.54, and far underperformed the broader markets.

The NASDAQ Biotechnology Index (NBI) and the iShares NASDAQ Biotechnology ETF (IBB) each slipped 22% on the year, while the NYSE Arca Biotechnology Index (BTK) shed 19%. ...