After starting almost 1% higher on Tuesday, the Nasdaq 100 turned to losses just over an hour after trading started in the United States as pharmaceutical companies led the losses in the index.

BioMarin Pharmaceuticals dropped 5.18% at 10:44 am ET, diabetes management company DexCom lost 4.74% at 10:45 am ET while Incyte Corp declined 4.71% at 10:46 am ET.

The Nasdaq 100 fell 0.95% at 10:47 am ET.