Merck stock's biggest selloff in nearly 17 years is cutting close to 60 points off the Dow's price

Published: Nov. 5, 2021 astatine 11:58 a.m. ET

Shares of Merck & Co. tumbled 9.5% successful midday trading Friday, putting them connected way to endure the biggest one-day driblet since January 2005, aft Pfizer Inc. released information connected a pill to dainty COVID-19 that showed greater efficacy than Merck's. The stock's terms diminution of $8.61 was shaving astir 57 points disconnected the Dow Jones Industrial Average's price, portion the Dow rallied 246 points, oregon 0.7%. The stock's large selloff, the banal has retraced astir 56% of the gain, from the Sept. 29 adjacent of $75.11 to the Thursday's grounds adjacent of $90.54, that was triggered by Merck's announcement that it developed an oral attraction for...