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September 30, 2016

Stocks skid as drugmakers fall

NEW YORK (AP) — 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.

Stocks were slightly lower in morning trading, and they fell hard at 12:30 p.m. Eastern time on renewed concerns about Germany's largest bank. EpiPen maker Mylan fell after legislators called for an investigation of the company. The price of oil continued to rise, which sent oil drilling and equipment companies higher. Stocks gave up most of their gains from the last two days.


 
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