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Healthcare and Financial Stocks Struggle in Midweek Trading
In afternoon trading on Wednesday, healthcare stocks fell as the worst-performing sector, registering a loss of 2.3%. Within this sector, Moderna Inc. (Symbol: MRNA) and Bio-Techne Corp. (Symbol: TECH) experienced notable declines of 8.1% and 6.1%, respectively. The Health Care Select Sector SPDR ETF (Symbol: XLV), which tracks healthcare stocks, is down 1.8% for the day and has decreased by 3.46% year-to-date. Year-to-date, Moderna has plummeted 38.17%, while Bio-Techne is down 35.22%. Combined, MRNA and TECH represent approximately 0.3% of XLV’s underlying holdings.
The financial sector followed closely behind, showing a 2.0% loss. Major players in this sector include Apollo Global Management Inc. (Symbol: APO) and UnitedHealth Group Inc. (Symbol: UNH), which reported losses of 5.4% and 4.8%, respectively. The Financial Select Sector SPDR ETF (XLF), which tracks financial stocks, is down 1.7% in midday trading but remains up 4.79% year-to-date. Year-to-date, Apollo Global Management is down 19.59%, while UnitedHealth Group has decreased by 39.08%. Apollo accounts for about 0.8% of XLF’s underlying holdings.
Below is a relative stock price performance chart showing these stocks and ETFs over the trailing twelve months. Each symbol is represented in a different color, as labeled in the legend below:
A snapshot of the S&P 500 components reveals that none of the sectors are up in Wednesday’s afternoon trading. In fact, nine sectors are showing losses.
Sector | % Change |
---|---|
Energy | -1.2% |
Technology & Communications | -1.3% |
Services | -1.5% |
Materials | -1.6% |
Consumer Products | -1.7% |
Utilities | -1.7% |
Industrial | -1.8% |
Financial | -2.0% |
Healthcare | -2.3% |
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• KDMN Videos
The views and opinions expressed herein do not necessarily reflect those of Nasdaq, Inc.
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