US STOCKS-Nasdaq has worst day since June 2012, weighed again by biotechs

jueves 10 de abril de 2014 14:19 GYT
 

* Nasdaq falls under 100-day moving average

* Biotech indexes have worst day since August 2011

* Bed, Bath & Beyond slumps after earnings

* Indexes off: Dow 1.2 pct, S&P 1.6 pct, Nasdaq 2.7 pct (Updates to afternoon trading)

By Ryan Vlastelica

NEW YORK, April 10 (Reuters) - U.S. stocks sank on Thursday, with the S&P 500 turning negative for the year and the Nasdaq falling its most in a day since June 2012 as investors again sold high-flying names in the technology and biotech sectors and sought shelter in defensive names.

The Nasdaq's decline took it below its 14-day and 100-day moving average, a sign of weakening short-term momentum.

More than 80 percent of Nasdaq-listed shares fell and the index's drop was more than twice the percentage decline in the blue-chip Dow index. About 69 percent of stocks fell on the New York Stock Exchange.

The move was a sharp reversal from the previous day, when shares rallied after minutes from the latest Federal Reserve policymakers' meeting showed members were more keen to keep rates low than earlier expected.   Continuación...