BioCentury
ARTICLE | Financial News

Biotech falls as trade deal uncertainty sinks stocks

December 5, 2018 12:23 AM UTC

Biotech indexes fell along with the broader markets Tuesday after President Donald Trump appeared to walk back a Saturday statement that his administration would not increase tariffs on Chinese goods.

The NASDAQ Biotechnology Index (NBI) and NYSE Arca Biotechnology Index (BTK) each gained more than a percent on Monday following the announced halt in tariff increases, but closed down 4% on Tuesday after Trump tweeted that members of his administration would be "seeing whether or not a REAL deal with China is actually possible."...