Stock Market Update
22-Oct-26 15:05 ET
Major averages little changed from previous levels
Dow -143.29
at 52713.01,
Nasdaq -779.20
at 25944.10,
S&P -118.97
at 7638.27
[BRIEFING.COM] The S&P 500 (-1.2%), Nasdaq Composite (-2.8%), and DJIA (-0.2%) remain little changed from their previous levels as the market enters the final hour of trading, with technology stocks continuing to face substantial selling pressure.
Moderna (MRNA) remains a notable laggard, with shares down more than 20% following a CNBC report that cancer vaccine data had partially leaked ahead of tomorrow's European Society for Medical Oncology conference. The company and Merck (MRK 148.23, -1.65, -1.10%)have since disclosed Phase 3 results for intismeran autogene in combination with KEYTRUDA in patients with resected melanoma. The treatment reduced the risk of recurrence or death by 42% compared with KEYTRUDA alone and lowered the risk of distant metastasis or death by 38%. Overall survival data remain immature, although the companies reported a favorable trend and said they are engaging with regulators.
Despite the reported clinical benefits, Moderna's sharp decline has weighed heavily on biotechnology stocks and limited the health care sector's gains (+1.2%) during an otherwise favorable session for defensive areas of the market.
