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.

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