Stocks slide on Wall Street; Volatile biotechnology sector takes another plunge; eBay down
NEW YORK, N.Y. - U.S. stocks are heading lower after a mixed batch of corporate earnings reports. Biogen Idec, Gilead Sciences and other biotech companies extended their recent slump.
The Standard & Poor's 500 index fell 15 points, or 0.8 per cent, to 1,856 as of noon (1600 GMT) Thursday.
The Dow Jones industrial average lost 75 points, or 0.5 per cent, to 16,361. The Nasdaq composite index dropped 75 points, or 1.8 per cent, to 4,108.
Ebay dropped 3 per cent on news that Carl Icahn is backing down from his campaign to shake up the company.
Biotechnology companies fell sharply. The sector has become volatile in recent weeks amid scrutiny over the cost of their drugs.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.63 per cent.
Read more Business News
- Conservatives elect Penticton manPenticton / S. Okanagan
- Crash at Kelowna racetrackKelowna
- Shots fired at RCMP after arrestBC
- Boat launch closures for SnowbirdsKelowna
|QHR Technologies Inc||1.15||-0.02|
|Anavex Life Sciences||0.275||-0.005|
|Copper Mountain Mining||2.82||0.00|
|Sunrise Resources Ltd||0.05||+0.025|
|Mission Ready Services||0.19||+0.01|
Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...