Wednesday, 21 October 2015

Wall St ends down with healthcare, IBM; United Tech rises

US stocks ended slightly lower on Tuesday as a decline in healthcare and biotech stocks offset gains in United Technologies and Verizon. 
A 5.7 percent drop to USD 140.64 in IBM also weighed on the market. The stock hit a five-year intraday low at USD 140.28 after it reported a bigger-than-expected decline in quarterly revenue and cut its full-year profit forecast.
 The S&P healthcare sector fell 1.5 percent, while the Nasdaq Biotech Index .NBI dropped 3.2 percent. 
Concerns about drug pricing have hit biotech and other healthcare shares.

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