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Biotech Selloff Causes Nasdaq to Drop Over 2%

The volatile biotech sector is experiencing extreme selling on Friday, pushing the NASDAQ down over 2%. Sr. Biotech Editor Adam Feuerstein says the sector rotation out of biotech has erased all the gains from the beginning of the year. The selling has gained in volume and speed as no one wants to be the last trader standing. Feuerstein thinks the selling could continue unless there is some big M&A news or a positive development on the biotech side to bring back investors.