After the S&P 500 lost 1.1 percent last week, the worst weekly showing by the benchmark U.S. index in four months, U.S. stocks are once again well in the red Monday.
For those looking for signs of risk appetite being restored, there is potentially ominous news from a marquee leadership group: Biotechnology stocks and the relevant exchange traded funds.
Biotech ETFs languished late last week after Biogen Inc (NASDAQ: BIIB) pared 2015 after it reported disappointing results for an experimental drug to treat Alzheimer's disease. That stock, one of the largest holdings in several biotech ETFs, slid 22 percent last Friday, but is up 4.5 percent on Monday. That's the good news, but the bad news is that two of Monday's best-performing ETFs on a percentage basis are bearish biotech funds.
Related Link: A Look Ahead: Biotech And Energy ETFs To Watch This Week
The Direxion Daily S&P Biotech Bear 3X Shares (NYSE: LABD) and the ProShares UltraPro Short NASDAQ ...
/www.benzinga.com/general/biotech/15/07/5706395/a-big-day-for-biotech-and-its-not-going-so-well alt=A Big Day For Biotech And It's Not Going So Well>Full story available on Benzinga.com
More...