* Pharma "getting away with murder" on high prices-Trump
* Health stock set to snap six-day winning streak
* Biotechs on track for worst day since Brexit vote
* Vix jumps by biggest margin in nearly two weeks
* Indexes down: Dow 0.03 pct, S&P 0.25 pct, Nasdaq 0.42 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Jan 11 U.S. stocks lost ground in choppy trading
on Wednesday, led by drug stocks after Donald Trump said
pharmaceutical companies were "getting away with murder" by
charging high drug prices.
The President-elect, in his first formal news conference
since his election victory, said he has also discussed making it
easier to import drugs at cheaper prices.
The S&P 500 healthcare index reversed course
following Trump's remarks and was down about 1.8 percent, on
track for its worst day since Oct. 28.
The Nasdaq biotechnology index sank 3.8 percent and
was on track for its worst day since June 24, a day after the
Both indexes are on track to snap a six-day winning streak.
"The healthcare space is definitely going to be a vertical
in the market that is going to see some volatility and it is
going to be day-to-day," said Peter Kenny, senior market
strategist at Global Markets Advisory Group, in New York.
At 13:19 p.m. ET (1819 GMT), the Dow Jones Industrial
Average was down 6.91 points, or 0.03 percent, at
The S&P 500 was down 5.7 points, or 0.25 percent, at
2,263.2 and the Nasdaq Composite was down 23.47 points,
or 0.42 percent, at 5,528.35.
The CBOE Volatility index, also called Wall Street's
"fear gauge", ticked up 4.6 percent - its biggest rise in nearly
"In times like this the expectation is for an erratic,
choppy environment, however we have not got anything earth
shattering," said Andre Bakhos, managing director at Janlyn
Capital in Bernardsville, New Jersey.
Four of the 11 major S&P sectors were lower, five were
higher and the rest were flat.
Helping limit losses was a spike in energy stocks,
which rose 1 percent as crude prices jumped 3.4 percent.
Another stock hit by Trump's remarks was Lockheed Martin
, which fell 1.3 percent after he said the F-35 fighter
jet program "is way behind schedule and billions over budget."
Advancing issues outnumbered decliners on the NYSE by 1,634
to 1,235. On the Nasdaq, 1,620 issues fell and 1,147 advanced.
The S&P 500 index showed 15 new 52-week highs and two new
lows, while the Nasdaq recorded 78 new highs and 14 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru, Additional
reporting by Tanya Agrawal; Editing by Savio D'Souza)