Biotech stocks had a volatile ride in the week ended May 14, with stocks moving broadly lower for much of the week before coming back up strongly in the final session. Some of the weakness may be traced back to the across-the-board weakness in markets, as macroeconomic fears unnerved traders.
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SPDR Gold Trust (GLD) - Despite bearish sentiment in the stock market by retail investors, stocks (as measured by the S&P 500 index) were down only about 2% from all-time highs. The
Biotech stocks came under pressure in the week ended May 7 as traders digested a slew of earnings news flow and a handful of clinical trial readouts. COVID-19 vaccine stocks came under pressure following the U.S.