NEW YORK, Sept 25 (Reuters) - The S&P 500 and Nasdaq turned lower in afternoon trading, dragged down by a drop in biotech shares.
The Nasdaq Biotech Index was down 6.2 percent, led lower by a 5.6 percent drop in Celgene.
The biotech index is on track for a 14-percent loss for the week. On Monday, U.S. Democratic presidential candidate Hillary Clinton said she would announce a plan to stop “price gouging” for specialty drugs, sparking a fall in the shares.
At 2:52 p.m., the Dow Jones industrial average rose 68.62 points, or 0.42 percent, to 16,269.94, the S&P 500 lost 4.54 points, or 0.23 percent, to 1,927.7 and the Nasdaq Composite dropped 56.05 points, or 1.18 percent, to 4,678.43. (Reporting by Caroline Valetkevitch; Editing by Nick Zieminski)