ARTICLE | Data Byte
XBI tumbles as ‘Wall of Worry’ takes hold of biotech
Key biotech ETF has fallen nearly 30% since November peak, as FDA turmoil, tariffs weigh on industry
April 5, 2025 12:27 AM UTC
A week that began with the XBI sliding into bear market territory in the wake of Peter Marks’ ouster from FDA worsened as President Donald Trump’s “Liberation Day” tariffs cast a pall over the broader markets.
In the two days after Marks was pushed into resigning as director for the Center for Biologics Evaluation and Research (CBER), the closely watched ETF fell 7%. It ended the week down 10%, worse than the 8% drop for the NASDAQ Composite and the S&P 500...