Eli Lilly's Volatile Trading Day Amid FDA Safety Concerns and Market Uncertainty
Eli Lilly experienced a volatile trading day as its shares initially dropped due to FDA safety concerns related to its obesity drug Foundayo, but later rebounded after the company clarified the adverse event was not linked to the drug. The broader market faced headwinds from rising oil prices and increased interest rates, with the 10-year Treasury yield rising to 4.45%.
Tickers: $LLY
Topics: Eli Lilly FDA Foundayo interest rates market reaction oil prices