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September 01, 2020 10:18am
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Trump Tweets And Drug Stocks Fall

President Donald J. Trump is at it again with the Twitter account. U.S. drug stocks wobbled today after Trump tweeted that he is “working on a new system where there will be competition in the Drug Industry.” Today, the iShares Nasdaq Biotechnology ETF ( IBB ) and the iShares U.S. Pharmaceutical ETF ( IHE ) fell 1.3% and 1% respectively. But Evercore ISI analyst Umer Raffat asked this question -- “What does that mean?”
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