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published on February 28, 2018 - 1:37 PM
Written by Associated Press

Stocks slumped on Wall Street, breaking the longest streak of positive monthly returns in the history of the Standard & Poor’s 500 index.

Indexes started higher on Wednesday but then waffled for much of the day before turning sharply lower in the last hour of trading.

Energy and health care companies fell more than the rest of the market.

Celgene, a drugmaker, sank 9 percent after the FDA said it’s not ready to review the company’s multiple sclerosis drug.

The S&P 500 fell 30 points, or 1.1 percent, to 2,713.

The index lost 3.9 percent in February. It had been posting monthly gains, including dividends, since October 2016.

The Dow Jones industrial average sank 382 points, or 1.5 percent, to 25,027.

The Nasdaq fell 57 points, or 0.8 percent, to 7,273.


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