Biotech Losing Streak Continues (IBB)

Biotech stocks slumped again Friday, extending recent losses. Weakness earlier this week was tied to comments from presidential candidate Hillary Clinton after she raised concerns about what she described as "price gouging."

Since then the sector hasn't been able to find its footing, with ETFs like iShares Nasdaq Biotechnology (Nasdaq: IBB) poised to finish the week lower by more than 14%.

Weakness also hit the broader healthcare sector, with UnitedHealth Group (NYSE: UNH) and other insurers swept up in what some called "panic selling" in stocks like Vertex Pharma (NASDAQ: VRTX).

M&A in the sector has been strong, and some investors might interpret a potential deal announcement this weekend, or lack thereof, as a sign of future direction.

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