Wall Street ends higher but biotech selloff weighs

By Angela Moon NEW YORK (Reuters) – U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market. The Nasdaq Composite Index fell nearly 3 percent for the week, marking its worst week since October 2012. The three major U.S. stock indexes had been significantly higher in most of the morning and early afternoon trade following comments from China's Premier Li Keqiang indicating that the country's government was ready to take steps to support its slowing economy. But a 2.8 percent drop in the Nasdaq biotechnology index led the major indexes to session lows.