UHC behind most of stock losses.
Much of the Dow’s drop over the past nine days can be chalked up to one stock.
As of Tuesday’s close, UnitedHealth Group Inc.
has contributed about 750 points to the Dow’s 1,564-point drop since the losing streak began. To help put that in context, that is about a 3.5% drop — not exactly a huge move. It is the blue-chip gauge’s worst nine-day performance since August, Dow Jones data showed.
UNH has struggled in the face of bipartisan congressional efforts to break up insurers’ lucrative pharmacy benefit manager business. It has also been in the news following the killing earlier this month of Brian Thompson, the CEO of the company’s insurance arm.
https://www.marketwatch.com/story/whats-behind-the-dows-current-losing-streak-and-should-investors-be-worried-d51cc0f4?mod=newsviewer_click
= new reply since forum marked as read
DOW:
Dec 4: 45,014.04
Dec 18: 42,326.87
-5.97%
S&P 500:
Dec 4: 6,086.49
Dec 18: 5,872.16
-3.52%
(It all-time-peaked 12/6 at 6090.27, slightly higher than Dec 4 level. )
DOW: https://finance.yahoo.com/quote/%5EDJI/history/
S&P 500: https://finance.yahoo.com/quote/%5EGSPC/history/
The S&P 500 is far far more representative of the total U.S. stock market than the 30 cherry-picked price-weighted stocks of the DOW. The S&P 500 isn't even in pull-back territory (which begins at 5% down). Nor is it even in correction territory (which begins at 10% down). Bear markets begin at 20% down.
Year to Date, as of the December 18 close, the DOW is up 12.3%, and the S&P 500 up 23.1%. Plus dividends.
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The above was some blurb that I wrote in another thread, for some perspective.
As of Tuesday Dec. 17 close, the Dow had been down 9 days in a row. With Wednesday's loss, that made it 10 days in a row.
Thanks for the info on UHC.
