US stocks sag; Teva bid for Mylan boosts pharma shares
Israeli pharmaceuticals giant Teva
New York - AFP
US stocks mostly fell Tuesday, but the Nasdaq stayed in positive territory as Israel's Teva announced a $40.1 billion cash-and-stock bid for generic drug maker Mylan.
The Dow Jones Industrial Average closed down 85.34 points (0.47 percent) at 17,949.59.
The broad-based S&P 500 slipped 3.11 points (0.15 percent) to 2,097.29.
But helped by Mylan's 8.9 percent surge, the tech-rich Nasdaq Composite added 19.50 (0.39 percent) at 5,014.10.
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