Nasdaq turns positive lifted by Facebook and biotech stocks

The Nasdaq Composite Index rose on Wednesday, erasing a loss in early trading as Facebook and biotechnology companies rallied. The index COMP, +1.64% gained 0.2%, having previously fallen more than 1.2% as technology stocks opened lower. The Nasdaq was supported by Facebook Inc. FB, +4.42% which rose 2%, although it remains down more than 13% for the month of March. Biotech stocks also supported the index, with Biogen Inc. BIIB, +0.74% up 1.4% and Celgene Corp. CELG, +0.90% up 2.7%. Limiting the day's advance was Amazon.com AMZN, +1.11%which sank 3.7%. The Dow Jones Industrial Average DJIA, +1.07% rose 0.4% while the S&P 500 SPX, +1.38% was up 0.3%. The Nasdaq has recently been pressured by a huge decline in technology shares; it is down 3.6% for the month of March, which is set to be its biggest monthly decline since January 2016.