XBI is trading 3.07% down now at $163.06 as investors sell biotech and other high-risk growth assets amid concern that Federal Reserve Chair Kevin Warsh’s August 28, 2026, Jackson Hole speech could signal a hawkish interest-rate stance.
- The biotech ETF was reported down 2.31% during regular trading, while broader indexes were comparatively steady.
- FDA approval of Revolution Medicines’ daraxonrasib is positive company news but does not explain XBI’s decline.