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Wall Street drops 1 percent when healthcare weighs; Nasdaq erases 2018 gains from Reuters

© Reuters. Traders work on NYSE floor in New York By Amy Caren Daniel (Reuters) – Wall Street hit 1 percent on Monday, suffered from healthcare shares following a federal verdict that Obamacare was constitutional, with the downturn in the market-leading sector which further confuses investors who are already worried about lowering global growth. The latest picture dropped Nasdaq's narrow winnings for the year, with the US markets experiencing its worst December performance in over 80 years. Dow Industrials ended 1 0 percent on Friday closing its record high to join Nasdaq in what is known as the area of ​​rights. A number of health insurance companies and hospital operators fell on Monday after a federal judge on Friday ruling that the affordable care act, commonly known as Obamacare, was unconstitutional based on its mandate that requires people to buy health insurance. The S & P healthcare index dropped 1.53 percent to cite its position as the most successful S & P sector this year for the Defense Tool Index, which was suspended 0.48 percent on Monday. The fact is that all the 11 major sectors were lower, with the slightest downturns logged in real estate and consumer indexes, were also considered defensive along with tools. "We hit a big hit on Friday, and what we see now is an uncertain market," said Peter Cardillo, a global economist at Spartan Capital Securities in New York. Finance companies released 0.77 percent t before an expected interest rate hike at the Federal…


© Reuters. Traders work on NYSE floor in New York

By Amy Caren Daniel

(Reuters) – Wall Street hit 1 percent on Monday, suffered from healthcare shares following a federal verdict that Obamacare was constitutional, with the downturn in the market-leading sector which further confuses investors who are already worried about lowering global growth.

The latest picture dropped Nasdaq’s narrow winnings for the year, with the US markets experiencing its worst December performance in over 80 years. Dow Industrials ended 1

0 percent on Friday closing its record high to join Nasdaq in what is known as the area of ​​rights.

A number of health insurance companies and hospital operators fell on Monday after a federal judge on Friday ruling that the affordable care act, commonly known as Obamacare, was unconstitutional based on its mandate that requires people to buy health insurance.

The S & P healthcare index dropped 1.53 percent to cite its position as the most successful S & P sector this year for the Defense Tool Index, which was suspended 0.48 percent on Monday.

The fact is that all the 11 major sectors were lower, with the slightest downturns logged in real estate and consumer indexes, were also considered defensive along with tools.

“We hit a big hit on Friday, and what we see now is an uncertain market,” said Peter Cardillo, a global economist at Spartan Capital Securities in New York.

Finance companies released 0.77 percent t before an expected interest rate hike at the Federal Reserve’s Tuesday Wednesday monetary policy meeting.

But investors hope that the central bank can ease up next year’s rising troubles to slow down global growth and President Donald Trump on Monday

9:55 ET was down 262.53 points, or 1.09 percent, At 23,837.98, the S & P 500 was down 28.54 points or 1.10 percent at 2.571.41 and it was down 90.92 points, or 1.32 percent, at 6.819.75.

The UnitedHealth Group Inc insurance company (NYSE 🙂 fell 2.14 percent and was the biggest draw on Dow. Johnson & Johnson (NYSE 🙂 continued its slide with a 2.2 percent drop in the wake of a Reuters report, the pharma major knew for decades that its Babypowder contained asbestos.

Meanwhile Goldman Sachs Group ] Inc (NYSE 🙂 fell 2.6 percent after Malaysia filed criminal charges against the bank and two former employees in connection with the 1MDB investigation.

Declining problems exceeded a 3.38-to-1 ratio for advances on NYSE and a 2.87 to 1 ratio on Nasdaq.

The S & P index recorded a new 52-week high and 89 new downturns, while Nasdaq recorded four new heights and 294 new downs.

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