Monday 4:31pm
July 28, 2014
Currently 86°F
Posted: Thursday, April 10th 2014 at 4:25pm

NASDAQ has worst day in 3 yrs.; Dow down 266

By The Associated Press
EMAIL STORY CONTACT EDITOR PRINT
click to enlarge
NEW YORK (AP) -- The Nasdaq had its worst day since 2011 as investors dumped biotechnology shares and other industries that have soared over the past year.

Biogen Idec, Gilead Sciences and other biotech companies plunged. After a huge run-up, those stocks have become volatile in recent weeks amid scrutiny over the cost of their drugs.

Facebook and Twitter, other recent investor favorites, also dropped.

The Nasdaq composite index lost 129 points, or 3.1 percent, to close 4,054, its biggest drop since November 2011.

The Dow Jones industrial average fell 266 points, 1.6 percent, to 16,170.

The Standard & Poor's 500 lost 39 points, or 2.1 percent, to 1,833. Ninety-six percent of the stocks in the index fell.

Small-company stocks also slid as investors sold riskier assets.

Bond prices rose as investors sought safety.
Associated Categories: National News, Business News, Local/State News

© Copyright 2014 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.


  • Click here
  • Click here
  • Click here
  • Click here
  • Click here
0.045940
icon
86°F
Gainesville, GA 30501
Clear
Wind: WNW 14 mph
Dew point: 58°F