Biotech Stocks Tank Nasdaq to Close Worst Week in Four Years

Biotech stocks closed out their worst week in four years after Democratic presidential candidate Hillary Clinton vowed to address 'price gouging' in the industry on Tuesday. Among the worst performers in trading Friday, Gilead Sciences (GILD), Pfizer (PFE), Valeant Pharmaceuticals (VRX), and Celgene (CELG) were all sharply lower. The Dow remained positive into the close thanks to a surge in Nike (NKE) shares. The athletic retailer beat quarterly estimates on the top and bottom line, while strength of sales in China supported growth prospects. Google (GOOGL) shares dropped on reports of another regulatory investigation into the internet company. The Federal Trade Commission reportedly began an investigation into complaints Google uses its Android operating system to promote its own services.