Stock Market Update
22-Oct-26 13:30 ET
Moderna shares plummet intraday
Dow -74.29
at 52782.01,
Nasdaq -649.28
at 26074.02,
S&P -99.84
at 7657.40
[BRIEFING.COM] The major averages remain near their session lows in early afternoon trading, with continued selling pressure in technology and AI-related stocks keeping the S&P 500 and Nasdaq Composite firmly lower despite relative strength elsewhere in the market.
The health care sector (+0.7%) remains higher amid continued rotation into defensive stocks, although its earlier gains have been cut by more than half as Moderna (MRNA 186.10, -59.71, -24.29%) faces a sharp selloff. Shares are down roughly 25% ahead of a scheduled presentation tomorrow at the European Society for Medical Oncology conference, where the company is expected to present data on adjuvant intismeran autogene plus FOLFIRINOX in patients with resectable pancreatic ductal adenocarcinoma.
The pronounced weakness in Moderna is also weighing on the broader biotechnology group, with the iShares Biotechnology ETF down 1.9% despite the health care sector's positive showing.
