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Health care companies lead US stocks lower; small-caps slump


Added 04-18-19 12:04:02am EST - “Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Health care companies lead US stocks lower; small-caps slump”. Below is an excerpt from the article.

Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier.

A sharp sell-off in health care companies far outweighed gains in technology and other sectors. Smaller company stocks fell more than the rest of the market.

Insurers drove the health care sector slide for the second straight day. Investors fear the potential impact on profits from health reform ideas being discussed in Washington and on the presidential campaign trail.

Qualcomm led the gainers in the technology sector. Intel climbed after pulling out of the smartphone modem market. And T-Mobile and Sprint slumped on reports the Justice Department is questioning their proposed merger.

PepsiCo and Morgan Stanley rose after delivering better than expected quarterly results Wednesday. IBM and Netflix fell a day after reporting their earnings.

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