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Biotech ETFs Punished For Owning Alnylam

Bad news for Alnylam Pharmaceuticals (ALNY) appears to be taking a bite out of two big biotech ETFs. The iShares Nasdaq Biotechnology ETF (IBB) fell 2.3%, while the SPDR S&P Biotech ETF (XBI) shed 2.9% after Alnylam got destroyed today by news that it has bagged development of one of its two gene-silencing drugs amid safety concerns
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