Stocks closed slightly lower on Friday, erasing an early gain, after being dragged down by health care companies. Bio-technology companies were especially hard-hit after lawmakers questioned the pricing of a Hepatitis C drug made by Gilead Sciences. Nike fell after warning that a stronger U.S. dollar will dampen its results this quarter.
The Dow Jones industrial average fell 28.38 points, or 0.2 percent, to 16,302.70.
The Standard & Poor’s 500 index dropped 5.61 points, or 0.3 percent, to 1,866.40.
The Nasdaq composite fell 42.50 points, or 1 percent, to 4,276.79.
For the week:
The Dow is up 237.03 points, or 1.5 percent.
The S&P 500 is up 25.27 points, or 1.4 percent.
The Nasdaq is up 31.39 points, or 0.7 percent.
For the year so far:
The Dow is down 273.89 points, or 1.7 percent.
The S&P 500 is up 18.04 points, or 1 percent.
The Nasdaq is up 100.20 points, or 2.4 percent.