iShares NASDAQ Biotechnology Index (ETF) IBB shares were seen trading higher by $4.99 at $300.02 in Wednesday's session. On Tuesday, the ETF fell $4.80 ($299.83 to $295.03), a move that was instigated by yet another negative President Donald Trump tweet affecting issues in the market.
"I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" the tweet read.
I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!
— Donald J. Trump (@realDonaldTrump) March 7, 2017
The ETF bottomed early in the session on Tuesday at $294.00 and found support in that same area at it bottomed off its opening print of $294.40 and began to move higher.
At this time, it has surpassed Monday's close ($299.83), climbing into the $300.00 handle as $300.16 stands as the current high.
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