Healthcare stocks took a hit in the afternoon session due to negative developments, including analyst downgrades and lost lawsuits. Companies like Elevance Health and Humana saw declines. Some pharmaceutical and biotech companies also dropped, with Sarepta Therapeutics plunging after a patient death and GSK’s drug dosage being voted against by the FDA. Market concerns about rising costs and pricing for 2025 plans added to the pressure on healthcare equities. Enovis’s shares fell significantly, impacted by news and market sentiment, down 39.7% since the beginning of the year. The stock market overreacts to news, creating buying opportunities for high-quality stocks.

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