MoneyWatch

U.S. stocks take another tumble; eBay heads lower

/ Associated Press

NEW YORK - U.S. stocks are heading lower after a mixed batch of corporate earnings reports. Biogen Idec, Gilead Sciences and other biotech companies extended their recent slump.

The Standard & Poor's 500 index fell 27 points, or 1.45 percent, to 1,845 as of 1 p.m. ET Thursday. The Dow Jones industrial average lost 166 points, or 1 percent, to fall to 16,270. The Nasdaq composite index dropped 89 points, or 2.46 percent percent, to 3,511.

EBay dropped 3 percent on news that Carl Icahn is backing down from his campaign to shake up the company.

Biotechnology companies fell sharply. The sector has become volatile in recent weeks amid scrutiny over the cost of their drugs.

First published on April 10, 2014 / 1:09 PM EDT

Associated Press

f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.