If you were doubting that the +3% market movement was primarily driven by this news, take a look at the markets at 12:40PM today when negative news of clinical

If you were doubting that the +3% market movement was primarily driven by this news, take a look at the markets at 12:40PM today when negative news of clinical trials for the drug were released. Again, direct minute by minute correlation btw SPY dropping and GILD news.