Stocks Opened Lower as Healthcare Stocks Hit

U.S. stocks opened slightly lower on Wednesday, as pharmaceutical companies took a hit after president-elect in an interview with the Time magazine said he would lower drug prices. The Dow Jones Industrial Average lately shed 1.24 points, or 0.01%, to 19,250.54. The S&P 500 was off 2.83 points, or 0.13%, to 2,209.40. The Nasdaq Composite fell 21.60 points, or 0.41%, to 5,311.40.

Pfizer Inc. has been fined $106.7 million by the U.K.’s competition regulator for charging the country’s National Health Service excessively high prices for an anti-epilepsy drug.

SunPower on Wednesday announced plans to shed jobs for the second time this year as the solar-panel maker navigates turbulence in the renewable energy business.

Oil futures prices twisted between narrow gains and losses Wednesday after a rise of nearly 20% over the space of five trading days. Light, sweet crude for January delivery gained 6 cents, or 0.1%, to $50.97 a barrel. Brent crude rose 4 cents, or 0.1%, to $53.98 a barrel.