The Biotech Sector is Hit the Hardest in the Market Sell-Off

Fidelity Select Biotechnology Fund (FBIOX, last change: -5.07%)

The stock market sold-off sharply today due to fears about the impact of the government shutdown and the stall of the budget ceiling negotiations in Washington. High flying sectors, such as Biotechnology and Internet were hit the hardest in the sell-off. The Fidelity Select Biotechnology Fund (FBIOX, last change: -5.07%) was down the most out of all Fidelity mutual funds.

 

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Market sell-off resumes

The stock market pulled back to its trading range, towards the recently established support level. The banking sector and European funds were hit especially hard.

Fidelity Spartan 500 Index fund (FUSEX), down 2.52%

Fidelity Spartan 500 Index fund (FUSEX), down 2.52%

Fidelity Select Banking fund (FSRBX), down 4.37%

Fidelity Select Banking fund (FSRBX), down 4.37%

Fidelity Europe fund (FIEUX), down 2.58%

Fidelity Europe fund (FIEUX), down 2.58%