Stocks Hit Session Lows; Biotech, Homebuilders Lead Slump

Stocks hit session lows Friday afternoon, with the S&P down 0.75% and the Nasdaq lower by 0.5% -- despite huge gains in Amazon.com (NASDAQ: AMZN).

Biotech was among the worst performing sectors with ETFs like iShares Nasdaq Biotechnology (NASDAQ: IBB) falling 2.75%, largely due to steep losses in Biogen (NASDAQ: BIIB) after it cut FY guidance.

Housing was another area of weakness, with SPDR S&P Homebuilders ETF falling following disappointing new home sales data.

You May Also Be Interested In

• Wall St indexes advance with boost from chips, Iran optimism
• Nasdaq and S&P 500 slip while Dow hits record high
• Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide