Stocks were under pressure again after Donald Trump made vague promises to lower drug prices. In a tweet on Tuesday Morning Trump said, "I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" The SPDR S&P Biotech ETF (XBI - Get Report)  fell 1.3%. The SPDR S&P Pharmaceutical ETF (XPH - Get Report)  declined by 2%. Large-cap stocks including Pfizer (PFE - Get Report) , Novartis (NVS - Get Report) , Merck (MRK - Get Report)  and Amgen (AMGN - Get Report)  were sharply lower. The Health Care SPDR ETF (XLV - Get Report)  slid 0.8%.

This article was written by a staff member of TheStreet.