Red on Wall Street: Healthy stocks are darkening

Red on Wall Street: Healthy stocks are darkening

On Thursday, the major indexes on Wall Street fell. Reuters wrote that large losses in the health sector overshadowed gains in Cisco and the energy sector.

S&P 500 heavyweight CVS Health (CVS.N) fell sharply 8.13 percent on news that Blue Shield of California plans to reduce its reliance on the company as a pharmacy benefits manager (PBM) and partner with others, including Amazon. com (AMZN.x).

Shares in computer networking giant Cisco rose 4 percent after the company reported quarterly numbers after a close on Wednesday that beat Wall Street expectations. The company’s fourth-quarter adjusted earnings per share came in at $1.14, which was higher than expected according to . Revenues amounted to 15.2 billion dollars.

The S&P 500 fell 0.77 percent to 4,370.36. The Nasdaq Technology Index fell 1.17 percent to 13,316.93, while the Dow Jones fell 0.84 percent to 34,474.83.

The volatility index – the VIX – rose 5.66 percent to 17.73.


The owner of Facebook Meta, Amazon, Apple, Netflix and Alphabet (aka FAANG shares) had a bad day on the stock exchange on Tuesday:

  • Facebook fell 2.86 percent to 285.86.
  • Amazon shares fell 0.73 percent to 134.08 points.
  • Apple shares fell 1.34 percent to 174.21 points.
  • Netflix shares fell 2.93 percent to 403.26 points.
  • Alphabet shares rose 1.22 percent to 130.27 points.


Positive economic data kept fears that interest rates will remain high for a longer period of time. The 10-year US Treasury bond yield reached its highest level since October 2022 on Thursday. The interest rate on 30-year US bonds rose to 4.4219%. The highest level since 2011.

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Rising oil prices led to gains of more than 2 percent for shares of Exxon Mobil (XOM.N) and Chevron (CVX.N), as commodities benefited on hopes that China’s central bank sought to boost the real estate market and the economy in general. .

The price of a barrel of North Sea Brent oil rose 0.53 percent to $83.74 a barrel. West Texas Intermediate oil rose 0.92 percent to $80.11 a barrel.


Like the leading indices on Wall Street, the cryptocurrency market also fell on Thursday:

At the closing time on Wall Street, bitcoin traded down 3.13 percent to $27,864.74 per coin dollar. Ethereum was trading down 4.05 percent to $1,737.22 per coin at the time of the close.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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