Skip to main content

Analysis

Healthcare Stocks Fall as Dow Plunges More Than 1,000 Points

By Jack O'Brien  
   February 24, 2020

The stock market experienced its largest one-day drop since early 2018.

The three major stock indices each fell by more than 3% Monday, one of the worst performing days in more than a year.

The Dow Jones Industrial Average fell by more than 1,000 points, finishing down 3.56%, while the Nasdaq fell 3.71% and the S&P 500 fell 3.35%.

The Dow Jones U.S. Health Care Providers Index also fell 6.36%, finishing down 145.25 points.

Related: Healthcare Sector is One of the Stock Market's Healthiest Sector Right Now

Many observers tied the stock market's performance to increased fears surrounding the coronavirus outbreak.

Below is a breakdown of the stock performances by healthcare companies:

Providers:

Universal Health Services Inc. slipped by 1.10%.

Quorum Health Corp. fell 2%.

Tenet Healthcare tumbled 4.33%.

HCA Healthcare dropped 5.3%.

Community Health Systems fell by more than 16%.
 

Insurers:

CVS Health Corp. dropped by almost 5%.

Anthem Inc. tumbled 5.8%.

Humana Inc. fell 6.32%.

Cigna Corp. fell by 7.59%.

Molina Healthcare Inc. dropped 7.62%.

UnitedHealth Group Inc. slid 7.7%.

Centene Corp. fell 9.33%.
 

Related: Health Insurance Stocks Jump After Fifth Circuit ACA Ruling
 

Drugmakers:

Allergan PLC dropped by nearly 1%.

Merck & Co. Inc. fell by just over 1%.

Sanofi fell by almost 2%.

Pfizer Inc. fell 2.73%.

AstraZeneca PLC ADR dropped nearly 5%.
 

Other healthcare companies:

DaVita Inc. slipped 1.32%.

Encompass Health Corp. dropped almost 3%.

Fresenius Medical Care fell 3.2%.

Magellan Health Inc. slid 3.34%.

Cerner Corp. dropped 3.48%.

One Medical fell by just over 7%.

Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.


Get the latest on healthcare leadership in your inbox.