Katherine Sullivan

The Dow dropped 1.7 percent, losing more than 800 points.

The Nasdaq lost 1.1 percent, and the S&P was down 1 percent.

Software companies and trade-sensitive sectors struggled following reports of potential economic fallout and new global tariffs.

Bonds rallied as investors sought safety, pushing the 10-year Treasury yield to its lowest level since November.

Among individual companies, Novo Nordisk shares plunged 16%.

The drugmaker reported that its obesity treatment failed to beat a rival drug by Eli Lilly in a clinical trial.

Meanwhile, Eli Lilly shares rose 5%.

Arcelic's shares rocketed 77 percent today.

The massive gain followed news that Gilead Sciences will purchase the remaining stake in the pharmaceutical company.

Netflix shares fell 3.4 percent.

Here's your Closing Bell Brief for Thursday, February 19th.

I'm Katherine Sullivan for The Wall Street Journal.

U.S.

stocks slipped today as investors weighed new corporate earnings and rising oil prices.

The Dow dropped half a percent during the afternoon session.

The S&P 500 and the Nasdaq each moved about 0.3 percent lower.

Brent crude futures rose toward $72 a barrel.

This advance followed a U.S.

military buildup in the Middle East ahead of a possible strike on Iran.

A rising trade deficit also influenced the cautious market sentiment.