The Dow Jones industrial fell 56.38 points, or 0.53%, to 10,649.26. For the week, index added 1.05%. The Standard & Poor's 500 Index fell 8.99 points, or 0.75%, to 1,194.22. For the week, index climbed 0.55%. The Nasdaq Composite Index slipped 10.95 points, or 0.51%, to 2,135.20. For the week, index rose 0.34%. The main reason of the fall were bad news from Pfizer (Pfizer stock drops on the news of Celebrex risk).

 

``Pfizer is just scratching the scab off the wound that's been on major pharmaceutical stocks for the better half of this year,'' said Jim McDonald, head of equity research at Northern Trust Corp. in Chicago, which manages $450 billion. The industry has ``issues surrounding the safety of its blockbuster drugs.''

 

Shares of Pfizer tumbled $3.09, or 11%, to $25.89, the biggest decline since Oct. 26, 1987.