U.S. stocks pared losses late Tuesday morning as a decline in drug stocks, triggered by President Donald Trump's tweet about lowering drug prices, was countered by gains in technology shares.

Pharmaceutical stocks came under fire after Trump said he was working on a new system to increase competition in the drugs industry and bring down prices.

Trump also backed a draft bill unveiled by Republicans on Monday to repeal and replace the Obamacare healthcare law but said the bill was open to negotiation.

Most of Dow stocks in negative area (19 of 30). Top loser - Verizon Communications Inc. (VZ, -0.90%). Top gainer - The Boeing Company (BA, +0.62%).

Most of S&P sectors also in negative area. Top loser - Healthcare (-0.6%). Top gainer - Conglomerates (+0.2%).

At the moment:

Dow 20919.00 -38.00 -0.18%

S&P 500 2368.75 -6.75 -0.28%

Nasdaq 100 5350.50 -10.50 -0.20%

Oil 53.33 +0.13 +0.24%

Gold 1218.50 -7.00 -0.57%

U.S. 10yr 2.51 +0.01