Stockwatch: Summer squall amplifies bad news
This article was originally published in Scrip
August was a disconcerting month for investors as jitters continue in the world's financial markets. With investors looking for safe havens for their money it was not surprising to see a wholesale sell-off of biotech stocks in the week up to 19 August, with those outside the US taking the biggest hits. Moreover, gold prices edging upwards it was also clear that big pharma stocks are no longer considered the ports in which investors can weather a storm.