US STOCKS-Wall St ends higher but biotech selloff weighs

viernes 28 de marzo de 2014 16:47 GYT
 

* Biotech sector plunges in late afternoon

* Momentum stocks still in focus; Netflix falls

* Nasdaq posts worst week since October 2012

* Dow up 0.4 pct; S&P 500 up 0.5 pct; Nasdaq up 0.1 pct (Updates to close)

By Angela Moon

NEW YORK, March 28 (Reuters) - U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market.

The Nasdaq Composite Index fell nearly 3 percent for the week, marking its worst week since October 2012.

The three major U.S. stock indexes had been significantly higher in most of the morning and early afternoon trade following comments from China's Premier Li Keqiang indicating that the country's government was ready to take steps to support its slowing economy.

But a 2.8 percent drop in the Nasdaq biotechnology index led the major indexes to session lows. The biotech sector index fell 7 percent for the week. With just one trading day left in March, the index was down about 13 percent for the month at Friday's close.   Continuación...