Alnylam Pharmaceuticals Plunges 4.7% as Iran Tensions Trigger Risk-Off Sell-Off
Alnylam Pharmaceuticals shares tumbled 4.7%, leading Nasdaq 100 losses as heightened Middle East tensions sparked a broad risk-off sell-off. The Nasdaq slid 0.8% and WTI oil premiums surged to $114.6 per barrel, intensifying market volatility that weighed on biotech and healthcare stocks.
1. Risk-Off Sentiment From Iran Deadline
Heightened threat of a U.S. deadline for Iran to reopen the Strait of Hormuz triggered selling across growth and tech sectors, sending the Nasdaq 100 0.8% lower in early trading as investors braced for potential escalation in the Middle East.
2. Alnylam’s Market Performance
Alnylam Pharmaceuticals led losses on the Nasdaq 100, sliding 4.7% as biotech and healthcare stocks underperformed, reflecting broader risk-off pressures rather than company-specific developments.
3. Oil Market Impact
WTI crude traded at a $4.2 premium over Brent, with front-month futures at $114.6 a barrel, signalling immediate supply concerns that further weighed on risk assets and exacerbated selling in vulnerable sectors.