The Dow dropped 400 points as the Justice Department’s investigation into UnitedHealth weighed on the market. Additionally, a weaker-than-expected U.S. housing sales report added to the pressure, with high prices and mortgage rates contributing to the slowdown. According to the National Association of Realtors, sales of previously owned homes fell 4.9% in January compared to the previous month, much worse than the anticipated 2.6% decline.

In the mid-morning, the Dow Jones Industrial Average slid 403 points, or 0.9%. The tech-heavy Nasdaq and S&P 500 dropped 0.7% and 0.6%, respectively.

Notable market movers on Friday included UnitedHealth, Alibaba, Celsius, Block, Dropbox, and others.

UnitedHealth under DOJ’s radar

UnitedHealth Group (UNH) is under fire over its Medicare billing practices. The Wall Street Journal reported Friday that the U.S. Department of Justice (DOJ) has launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage plans.

UnitedHealth stock fell almost 9% in Friday morning trading following the news.

SEC drops case against Coinbase

The Securities and Exchange Commission (SEC) plans to drop its enforcement case against Coinbase, marking a significant shift in cryptocurrency regulation.

Following the announcement, Coinbase’s (COIN) shares rose 3% on Friday morning. The SEC had accused Coinbase of operating an unregistered securities exchange and offering unregistered securities.

—Bruce Gil contributed to the article.

For the latest news, Facebook, Twitter and Instagram.