Biotech Selloff Sinks U.S. Stocks; Dollar Gains, Treasuries Fall

Updated on
  • Nasdaq Biotech Index sinks 5.1%, tumbles into bear market
  • Fed Chair Yellen sees liftoff in 2015, barring any surprises

Can Central Banks Handle Global Economic Pressure?

A selloff in biotechnology shares halted a rally in U.S. equities, while the dollar rose and Treasuries fell after Federal Reserve Chair Janet Yellen reassured investors the turmoil in emerging markets won’t kill off U.S. economic growth.

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