Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0percent on worries about oversupply.
Healthcare shares .SPXHC shares, fell 1.6 percent, their biggest drop since June 24. Mylan (MYL.O) slumped 5.4-percent to $43.15 after U.S. presidential candidate Hillary Clinton joined a Senate committee in asking why the cost of its allergy treatment EpiPen had soared.
Shares in the materials sector .SPLRCM closed 1.2 percent lower with miners such as Newmont Mining (NEM.N) and Freeport-McMoRan (FCX.N) the worst performers on the S&P 500 index, losing more than 7.0 percent, as gold and copper prices slumped.
On Wall Street, the Dow Jones industrial average .DJI fell 65.82 points, or 0.35 percent, to 18,481.48, the S&P 500 .SPX lost 11.46 points, or 0.52 percent, to 2,175.44 and the Nasdaq Composite .IXIC dropped 42.38 points, or 0.81 percent, to 5,217.70.
Asian stocks fell as commodity shares slumped with oil before a speech Friday from Federal Reserve Chair Janet Yellen that may provide further clues to the path of U.S. interest rates.
The MSCI Asia Pacific Index dropped 0.2 percent to 138.72 as of 9:09 a.m. in Tokyo.
Reference: Reuters, Bloomberg
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