Biotech Stocks Hammered: NASDAQ Biotechnology Index Plunges Over 5%
NEW YORK – The NASDAQ Biotechnology Index (INDEXNASDAQ: NBI), a key benchmark for the performance of biotechnology and pharmaceutical companies listed on the NASDAQ, suffered a significant decline during trading on Wednesday, April 10th.
The index saw substantial selling pressure, falling sharply throughout the session. As of approximately 1:27 PM EDT (UTC-4), the NBI stood at 3,720.14. This represents a steep drop of 208.46 points, equating to a 5.31% loss for the day.
This move places the index considerably below its previous closing value of 3,928.60, indicating a major pullback for the sector.
The intraday chart shows the index gapping down at the open and continuing a mostly downward trend through the morning, reaching its lowest point around 12:30 PM before attempting a modest recovery in the early afternoon. The significant percentage drop highlights investor retreat from this often volatile sector amid broader market movements.
This sharp decline in the biotech index is drawing attention as investors assess valuations and sentiment within the healthcare and innovation-driven segments of the market.
