U.S. biotech bloodbath hits hedge funds but some bargains emerge

The Nasdaq Biotechnology index has fallen 18.7 percent over the last seven sessions as investors took flight after Hillary Clinton, front-runner to be the Democratic nominee in next year's U.S. presidential election, vowed on Sept. 21 to take steps to curb high drug prices. The selloff was exacerbated by general market volatility as investors have been grappling with uncertainty about when policy makers will raise U.S. interest rates and concerns over the global economy.