NEW YORK — U.S. stocks skidded Thursday as drug companies and banks absorbed large losses. Drugmakers faced scrutiny over price increases, while banks fell as investors worried about the stability of Deutsche Bank and other financial institutions.
The Dow Jones industrial average slid 195.79 points, or 1.1 percent, to 18,143.45.
The Standard & Poor’s 500 gave up 20.24 points, or 0.9 percent, to 2,151.13.
The Nasdaq composite fell 49.39 points, or 0.9 percent, to 5,269.15.
For the week:
The Dow is down 118 points, or 0.6 percent.
The S&P 500 is down 13.56 points, or 0.6 percent.
The Nasdaq is down 36.59 points, or 0.7 percent.
For the year:
The Dow is up 718.42 points, or 4.1 percent.
The S&P 500 is up 107.19 points, or 5.2 percent.
The Nasdaq is up 261.74 points, or 5.2 percent.