Stock Selling Continues As Biotechs Near Bear-Market (Negative Year-To-Date)

By Tyler Durden of Zero Hedge

Monday, April 7, 2014 12:12 PM EDT

UPDATE: V-shaped recovery in stocks as 103 USDJPY marks line in the sand...

BTFD failed and momentum has broken. Growth stocks and Biotech dreams are lying shattered in a pool of margin calls once again this morning. Nasdaq being dragged by another more-than-1% drop in Biotechs (now negative year-to-date) and nearing the 20% high-to-low drop of a bear market. Bonds are bid as JPY carry unwinds drag broad US equity markets lower... The USD is weaker (led by EUR strength) and precious metals are down modestly (gold at $1300)

Nasdaq and Russell well into the red with the Dow as the S&P is fading fast...