Stocks Closing Lower as Drugmakers Fall

Stocks are closing lower on Wall Street as health care companies and smaller firms tumbled, the AP reports. Drugmaker Merck fell 6.1% Monday after it withdrew a marketing application for its drug Keytruda in Europe. Smaller companies skidded. The Russell 2000 index fell 1.2% to 1,490. That was its biggest loss since mid-August. Technology companies continued to rise. Apple jumped 2.4% and closed at an all-time high. The Standard & Poor's 500 index slipped 8 points, or 0.3%, to 2,572. The Dow Jones industrial average fell 85 points, or 0.4%, to 23,348. The Nasdaq composite fell 2 points to 6,698. (More stock market stories.)