UnitedHealths stock drops over 22% for worst day since 1998. Heres why – National [Video]

Most U.S. stocks climbed Thursday, but the worst drop for UnitedHealth Group in a quarter of a century kept Wall Street in check.

The S&P 500 edged up by just 0.1%, even though three of every four stocks climbed in the index. The Nasdaq composite slipped 0.1% in a mostly steadier performance following its sell-off the day before.

The Dow Jones Industrial Average dropped 527 points, or 1.3%, largely because of just stock. UnitedHealth Group lost more than a fifth of its value and fell 22.4% following a weaker-than-expected profit report.

Helping to lead the way higher on Wall Street was Eli Lilly, which jumped 14.3% after the drugmaker reported encouraging results for a once-daily pill that could help treat people with obesity and diabetes.

Stocks of companies in the oil-and-gas industry also rallied after the price of crude rose to recover some of its sharp losses taken this month. Diamondback Energy jumped 5.7%, and Halliburton climbed 5.1%.