The SPDR S&P Biotech ETF closed Monday at a five-year low


ETF SPDR S&P Biotech
XBI,
-7.22%

Closed Monday at a five-year low of $ 64.37 as U.S. stocks Dived in apprehension On the continuation of inflation and the threat of weaker growth. The last time the price of a biotech ETF fell so low was in December 2018. “A combination of clinical and regulatory failures, a lack of mergers and acquisitions and a macro environment created a downward spiral that seems to us an overreaction to the ‘bubble’ of 2020 to early 21 ‘”. RBC Capital Markets analyst Brian Abrahams told investors on Tuesday. The SPDR S&P Biotech ETF fell 37.3% this year, while the wider S&P 500
SPX,
-1.65%

Decreased by 16.2%.



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