Biotech investors must have been thinking “not again” today when the group tanked after Hillary Clinton tweeted about the high cost of some drug prices.  That’s because a similar event occurred back on July 16th of last year.  On that day, Biotech got unexpected attention from Fed Chair Yellen when she singled out the group as an area that has “substantially stretched valuations” in a prepared report that went along with her Senate testimony.

Below is a chart of the Nasdaq Biotech Index with Yellen’s comments highlighted:

investingwithbespoke

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