NEW YORK, NY / ACCESSWIRE / October 11, 2018 / U.S. equities continued to tumble on Wednesday on rising yields and interest rates. Additionally, weakening tech stocks pressured the S&P 500 to its worst daily drop since February, while the Dow Jones fell over 800 points. The Dow Jones Industrial Average declined 3.15 percent to close at 25,598.74, while the S&P 500 Index decreased 3.29 percent to close at 2,785.68. The Nasdaq Composite Index closed down 4.08 percent to close at 7,422.05.
“Sentiment is mixed, spurred by rising interest rates and a general heightened degree of investment difficulty,” according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.
“Bonds matter, trade policy remains a work in progress and the midterm elections are less than one month away. As interest rates trend higher, bonds become a more viable alternative to equities and valuation multiples tend to become compressed,” Sandven added.
RDI Initiates Coverage on:
CRISPR Therapeutics AG
https://rdinvesting.com/news/?ticker=CRSP
Myriad Genetics, Inc.
https://rdinvesting.com/news/?ticker=MYGN
CRISPR Therapeutics' stock moved 0.57% lower Wednesday, to close the day at $36.64. The stock recorded a trading volume of 1,315,054 shares, which was above its three months average volume of 979,344 shares. In the last year, CRISPR Therapeutics' shares have traded in a range of 16.51 - 73.90. The share price has gained 121.93% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $48.03 is below its 200-day moving average of $53.65. Shares of CRISPR Therapeutics have fallen roughly 26.26 percent in the past month and are up 56.05 percent year-to-date.
Access RDI's CRISPR Therapeutics AG Research Report at:
https://rdinvesting.com/news/?ticker=CRSP
On Wednesday, shares of Myriad Genetics recorded a trading volume of 997,141 shares, which was above the three months average volume of 768,112 shares. The stock ended the day 3.87% higher at $44.86. The share price has fallen 11.06% from its 52 week high with a 52 week trading range of 27.23 - 50.44. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $46.77 is above its 200-day moving average of $39.07. Shares of the company are trading at a Price to Earnings ratio of 24.65. Shares of Myriad Genetics have fallen roughly 4.02 percent in the past month and are up 30.6 percent year-to-date.
Access RDI's Myriad Genetics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MYGN
Our Actionable Research on CRISPR Therapeutics AG (NASDAQ:CRSP) and Myriad Genetics, Inc. (NASDAQ:MYGN) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com