Health care stocks sink after ACA court ruling
Health care stocks are leading major U.S. indexes lower in early trading on Wall Street after a federal judge ruled that the 2010 Affordable Care Act is unconstitutional.
Hospital operators and insurers that would stand to lose if the law is weakened or overturned took some of the biggest losses early Monday. HCA, the largest publicly traded hospital operator, fell 3.8 percent and Centene, an insurer, lost 8.8 percent.
The S&P 500 index fell 21 points, or 0.8 percent, to 2,578. After several weeks of declines, the benchmark index is trading at its lowest level of the year.
The Dow Jones Industrial Average lost 208 points, or 0.9 percent, to 23,893. The Nasdaq composite fell 56 points, or 0.8 percent, to 6,853.