As losses by health care companies outweigh gains elsewhere on the industry, stocks are shutting lower on Wall Street.
Insurers were hammered on by investors amid fears over the impact on their profits by health problems being discussed in Congress. Anthem dropped 3.6%, Cigna dropped 3.7%, and UnitedHealth fell 1.9%.
Even the S&P 500 index fell 6 points, or 0.2%, to 2,900.
The Dow Jones Industrial Average fell 3 points. The Nasdaq fell 4 points approximately 0.1% to 7,996.
As reductions by healthcare businesses outweigh gains elsewhere in the market, stocks are significantly lower at midday Wednesday.
Investors are beating insurer amid fears over the effect on their profits out of health problems being discussed in Congress. Anthem fell 4.7 percent, Cigna dropped 4.3%, and UnitedHealth fell 3.1%.
Qualcomm is up another 9.7 percent, adding to Tuesday’s 23% profit after the chipmaker settled a legal dispute with Apple.
The Dow Jones Industrial Average fell 12 points or 0.1% to 26,439. The Nasdaq is down 13 points or 0.9% to 1,569.
Stocks are opening higher on Wall Street Wednesday, led by engineering and industrial companies in early trading.
Mobile chipmaker Qualcomm is another 17% after it settled a dispute with Apple after obtaining 23 percent Tuesday. In a related move, Intel is pulling from the market that is smartphone. Its shares are increasing 2.4%.
Sprint and t-Mobile are equally reduced on reports that the Justice Department is currently questioning their merger.
IBM is down 5% Netflix shares are flat and while United Continental consists of 4%, among companies reporting quarterly results.
The S&P 500 index is up 5 points, or 0.2 percent, to 2,912.