US STOCKS-Wall St drops with tech shares; Nasdaq down for 4th day

U.S. stocks sold off in late trading on Thursday, with the Nasdaq on track for a fourth straight day of losses, as Apple shares declined and economic data reignited concerns about the outlook for interest rates. It comes a day after the Federal Reserve pointed to weakness in the labor market and other areas of the U.S. economy. The Nasdaq biotech index dropped 3.2 percent, led by a 3.9 percent fall in Celgene, which reported lower-than-expected quarterly revenue. At 3:10 p.m., the Dow Jones indu