Stocks gave up early gains and closed lower on Wall Street, led by drops in health care companies. The S&P 500 fell 0.4% Thursday. The Dow Jones Industrial Average lost 0.7%, and the Nasdaq composite slipped less than 0.1%. Health care stocks sank after the White House released letters asking big pharmaceutical companies to cut prices and make other changes in the next 60 days. Meta Platforms surged after the parent company of Facebook and Instagram crushed Wall Street’s sales and profit targets even as the company continues to pour billions of dollars into artificial intelligence.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Stocks indexes were mixed in afternoon trading on Wall Street Thursday after a health care sector slide offset some of the gains from a rally a

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