Business

Stocks drop; Biotech takes another plunge

By Washington Examiner
Published April 10, 2014 8:15pm ET
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Stocks drop; Biotech takes another plunge
Trader Ronald Madarasz, left, and specialist Donald Civitanova work on the floor of the New York Stock Exchange Thursday, April 10, 2014. U.S. stock indexes are slipping lower in early trading Thursday as investors pick over a mixed batch of corporate earnings reports. (AP Photo/Richard Drew) | Richard Drew

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.

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