Wall Street slips, weighed down by healthcare plunge

NEW YORK - U.S. stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.

UnitedHealth Group Inc, Pfizer Inc, Merck & Co Inc and Abbott Laboratories all closed down between 1.9% and 4.7%, and were among the biggest drags on the broader S&P 500. United Continental Holdings Inc jumped 4.7% following Tuesday’s after-market earnings report, where the airline bested consensus estimates and held its 2019 profit target firm, even as Boeing Co’s 737 MAX jets remain grounded.PepsiCo Inc reported better-than-expected first-quarter sales on strong North American demand. The packaged food company’s shares rose 3.8%.

The Dow Jones Industrial Average fell 3.12 points, or 0.01%, to 26,449.54, the S&P 500 lost 6.61 points, or 0.23%, to 2,900.45 and the Nasdaq Composite dropped 4.15 points, or 0.05%, to 7,996.08.Qualcomm Inc surged 12.2% after the chipmaker settled its long-running legal battle with Apple Inc. Apple shares climbed 1.9%.On the economic front, the U.S. trade deficit dropped to an eight-month low in February due to a 20.2% plunge in imports from China.

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