Part of the reason for the big declines seen in stocks on Monday may be that there has been some froth in the market, spurred on by what is shaping up to be a record year for mergers and acquisitions.
Deals worth nearly $300 billion have already been announced this year, up nearly 50 percent from the same time in 2014, according Dealogic data.
This also looks set to be a record year for fundraisings in the sector, with a total of $8.5 billion raised so far this year – the previous full-year record for the sector is $11.6 billion in 2010.
Medical device companies have also seen increased interest, with both UBS and Moody's issuing positive notes on the sector recently. This is in part because of a surge in M&A activity, and also because of the increase in hospital admissions following the Affordable Care Act, which seems to be offsetting some of the losses felt following an extra tax imposed as part of the ACA.
Nonetheless, there is still plenty of life in the sector. Despite yesterday's falls, biotech stocks are still outstripping the performance of the rest of the Nasdaq year-to-date. And, of course, Clinton may not win next year – she hasn't even secured the Democratic Party's nomination yet.