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Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Incyte (NASDAQ:INCY) and the best and worst performers in the immuno-oncology industry.

(Reuters) -The S&P 500 index slumped further on Monday and was down more than 20% from its all-time highs, putting the most closely followed benchmark for U.S. equities on track to confirm a bear market. The Dow Jones Industrial Average was down more than 17% below its record high, while the Nasdaq confirmed it was in a bear market last week as fears of a recession following U.S. President Donald Trump's sweeping tariffs pounded global stocks. An index confirms it has been in a bear market if it closes more than 20% below its record closing high, according to a widely used definition.

(Bloomberg) -- Wall Street forecasters are racing to temper their views on US equities as President Donald Trump’s sweeping tariffs threaten to upend the global economy.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transportation Abundance’ Look Like?Oppenheimer & Co.’s

Money markets on Monday began showing signs of strain following an aggressive selloff engulfing global equities, sending various measures of demand for dollars to their strongest in months. Three-month cross-currency basis swaps, a derivative that reflects non-U.S. demand for dollars, shot to their strongest level for the euro and the pound since late 2023, while those for the Japanese yen reached their strongest in five months. A more negative number indicates demand for dollars from euro-based investors.

(Bloomberg) -- Japan’s Nikkei 225 Stock Average slid into a bear market over fears of a widening trade war, while Japanese Prime Minister Shigeru Ishiba was reportedly set to have a call with US President Donald Trump on Monday night.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWh

Chancellor-in-waiting Friedrich Merz called on Monday for swift action to secure Germany's competitiveness in response to sliding stock and bond markets, following U.S. President Donald Trump's announcement of sweeping tariffs. Major stock indexes plunged on Monday as Trump showed no sign of backing away from his tariff plans, and investors bet the mounting risk of recession could see the Federal Reserve cutting interest rates as early as May.

Wall Street is coming off its worst week since the advent of the pandemic, shedding over $5 trillion in value amid Trump's tariff plans.