As Stock Market Slides, Health Systems And Insurers Are Pulled Along
During a difficult day on Wall Street, health systems saw mixed results with no real explanation for why some fared better than others. Morningstar analyst Michael Waterhouse said to "expect to see a corollary drop in health care stock prices."
Health System, Insurer Stocks Fare Better Than S&P
Stocks of investor-owned health systems and health insurance carriers took a significant hit Monday, swept down by the broader tailspin that hit the Dow Jones industrial average and the S&P 500, both of which fell by more than 4%. HCA Healthcare was down 3.81% as of market close Monday, even bigger than the 2.49% drop the Nashville-based hospital chain experienced at the end of last week. Community Health Systems fell by 3.49%--steep, but not quite as much as the 4.56% hit it took on Friday. (Bannow, 2/5)