You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Nasdaq has worst day since 2011

NEW YORK (AP) — The Nasdaq had its worst day since 2011 as investors dumped biotechnology shares and other industries that have soared over the past year.

Biogen Idec, Gilead Sciences and other biotech companies plunged. After a huge run-up, those stocks have become volatile in recent weeks amid scrutiny over the cost of their drugs.

Continue reading below

Facebook and Twitter, other recent investor favorites, also dropped.

The Nasdaq composite index lost 129 points, or 3.1 percent, to close 4,054, its biggest drop since November 2011.

The Dow Jones industrial average fell 266 points, 1.6 percent, to 16,170.

The Standard & Poor’s 500 lost 39 points, or 2.1 percent, to 1,833. Ninety-six percent of the stocks in the index fell.

Small-company stocks also slid as investors sold riskier assets.

Bond prices rose as investors sought safety.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week