A three-day surge in U.S. stocks stalled on Tuesday, as a profit warning from dr...
- A three-day surge in U.S. stocks stalled on Tuesday, as a profit warning from drugstore chain Walgreens Boots hit the pharma sector, while investors looked for signs of strength in the economy in the wake of growth worries.
The S&P consumer staples index was down 0.6%, while rival CVS Health Corp fell 4.5% and drug wholesalers McKesson Corp and AmerisourceBergen Corp dropped more than 2% and 4% respectively. The data comes on the heels of a survey showing a surprise rebound in China’s manufacturing activity and better-than-expected U.S. numbers, which drove the S&P 500 to near six-month highs on Monday.
At 11:29 a.m. ET the Dow was down 87.09 points, or 0.33%, at 26,171.33 and the S&P 500 was down 2.76 points, or 0.10%, at 2,864.43.
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