Markets Right Now: Health care stocks lead US market lower

Associated Press |

NEW YORK (AP) — The latest on developments in financial markets (all times local):

Health care companies are leading stocks broadly lower in early trading on Wall Street as the market gives back some of its big gain from the day before.

Drug distributor companies were especially hard hit in the early going Tuesday after The Wall Street Journal reported that Amazon was seeking to expand its medical supplies business and that Walgreens Boots Alliance wants to buy the rest of AmerisourceBergen.

Patterson Companies slumped 10 percent, and Cardinal Health lost 4 percent.

Athletic gear maker Under Armour rose 17 percent after both companies reported strong results.

The Standard & Poor's 500 index fell 9 points, or 0.4 percent, to 2,645.

The Dow Jones industrial average fell 95 points, or 0.4 percent, to 24,493. The Nasdaq lost 18 points, or 0.2 percent, to 6,964.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

IMV Inc.

Immunovaccine Inc is clinical stage biopharmaceutical company. The Company develops products based on its proprietary vaccine enhancement platform in T cell activating therapies for cancer.