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This Day In Market History: First Draft Of Human Genome Completed

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This Day In Market History: First Draft Of Human Genome Completed

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day 19 years ago, the National Institutes of Health announced the completion of the first draft of the human genome.

Where The Market Was

The Dow closed at 10,542.99. The S&P 500 traded at around 1,455.31. Today, the Dow is trading at 26,548 and the S&P 500 is trading at 2,917.

What Else Was Going On In The World?

In 2000, the modern art museum the Tate Modern opened in London. Concord Air France Flight 4590 crashed in Paris, killing all 109 passengers and five people on the ground. Average annual income in the U.S. was $40,343.

Completing The Human Genetic Blueprint

A decade after the International Human Genome Project was launched in 1990, the NIH completed its first “rough draft” of the entire human genome. The historic announcement was made jointly by U.S. President Bill Clinton and British Prime Minister Tony Blair.

On Wall Street, genome sequencing stock Celera Genomics Group tanked by 11 percent on the day the announcement was made as traders took a “sell the news” approach to the historic day. Celera still operates today and was acquired by parent company Quest Diagnostics Inc. (NYSE: DGX) in 2011.

At the time of the June 2000 announcement, the HGP had assembled 85 percent of the sequence, but work continued on until the HGP officially completed the full human genome sequence in April 2003. The full sequence of the final human chromosome was published in “Nature” in May 2006.

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