Trump says pharmaceutical companies "getting away with murder"

U.S. President-elect Donald Trump speaks during a news conference in the lobby of Trump Tower in Manhattan, New York City, U.S., January 11, 2017. REUTERS/Lucas Jackson

NEW YORK (Reuters) - U.S. President-elect Donald Trump on Wednesday said pharmaceutical companies are "getting away with murder" in what they charge the government for medicines, and promised that would change, sending drugs stocks sharply lower.

The benchmark S&P 500 index <.SPX> slipped into negative territory after his remarks at a news conference spooked investors. The iShares Nasdaq Biotech ETF dropped 4 percent at its session low and ended down 3 percent, its largest daily percentage drop in three months.