NEW YORK, NY / ACCESSWIRE / February 6, 2018 / The markets recent selloff continued Monday as a result of rising interest rates. Both the Dow Jones and the S&P 500 fell sharply to close in negative territory year-to-date. The Dow Jones Industrial Average dropped 4.60 percent to close at 24,345.75, down 1.51 percent year-to-date, while the S&P 500 Index fell 4.10 percent, the biggest one day drop for the index in six years, to close at 2,648.94, down 0.92 percent year-to-date. All of the sectors in the S&P 500 and the 30 members of the Dow closed in the red on Monday.
"We're not used to getting washouts like this anymore," said Quincy Krosby, chief market strategist at Prudential Financial, according to CNBC. "The buy-the-dip mentality that has taken over hasn't allowed for that."
"This sell-off, in the bigger scheme of things, is not that big. But it is very important in psychological terms," Krosby said.
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ACADIA Pharmaceuticals’ stock moved 7.08% lower Monday, to close the day at $26.91. The stock recorded a trading volume of 1,904,146 shares, which was above its three months average volume of 1,779,108 shares. In the last year, ACADIA Pharmaceuticals’ shares have traded in a range of 25.06 - 41.20. The stock is currently trading 34.68% below its 52 week high. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $29.32 is below its 200-day moving average of $32.04. Shares of ACADIA Pharmaceuticals have fallen roughly 6.89 percent in the past month and are down 10.63 percent year-to-date.
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On Monday, shares of Portola Pharmaceuticals recorded a trading volume of 937,138 shares, which was above the three months average volume of 910,659 shares. The stock ended the day 7.20% lower at 46.29. The share price has gained 72.08% from its 52 week low with a 52 week trading range of 26.90 - 67.10. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $50.78 is below its 200-day moving average of $53.46. Shares of Portola Pharmaceuticals have fallen roughly 4.93 percent in the past month and are down 4.91 percent year-to-date.
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