Losses for drugmakers pull indexes lower
U.S. stocks declined for the third time in four days on Tuesday as health care companies took center stage. Drugmakers fell after President Donald Trump said he wants to bring drug prices down. Insurers rose and hospital companies dropped after Republicans in Congress introduced a bill intended to replace the 2010 Affordable Care Act. Pharmaceutical and biotechnology companies fell after Trump said in a morning tweet that he intends to bring down drug prices. The health care proposal gave big health insurers a boost, but hurt companies that do a lot of business with Medicaid. The Standard & Poor’s 500 index lost 6.92 points, or 0.3 percent, to 2,368.39. The Dow Jones industrial average lost 29.58 points, or 0.1 percent, to 20,924.76. The Nasdaq composite sagged 15.25 points, or 0.3 percent, to 5,833.93. On Thursday the current bull market will turn eight years old. It has lasted longer than any other since World War II except for the decadelong run that ended in early 2000.