US STOCKS-Nasdaq marks worst day since Nov. 2011 as biotechs sink

jueves 10 de abril de 2014 16:47 GYT
 

* Nasdaq posts biggest daily percentage loss since Nov. 9, 2011

* Biotech index has worst day since August 2011

* VIX, Wall Street's fear index, jumps 15 percent

* Dow down 1.6 pct; S&P 500 off 2.1 pct; Nasdaq off 3.1 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, April 10 (Reuters) - The Nasdaq suffered its biggest drop in two-and-a-half years on Thursday after another sharp selloff in biotech and momentum names, including Gilead Sciences and TripAdvisor, increasing investor anxiety about a broader pullback.

The Nasdaq biotechnology index shed 5.6 percent, its biggest one-day drop since August 2011, adding to recent losses since a big drop in Gilead more than two weeks ago triggered a wider selloff for biotechs and other recent big gainers. The Nasdaq biotech index has fallen 19.3 percent from its all-time high of 2,872.29 on Feb. 25.

The S&P 500 also posted its biggest percentage loss since Feb. 3, while the Nasdaq has dropped 7 percent from its closing high for the year, set on March 5. All stocks in the Nasdaq 100 index posted a loss, with the exception of CH Robinson Worldwide, which ended up 1.6 percent at $53.80.

The selling also hit the shares of three companies in their first day of public trading after their initial public offerings were priced on Wednesday night. All three IPOs ended lower.   Continuación...