Stocks close broadly lower on Wall Street; trade in focus

News headlines today: Dec. 9, 2019health care

A Chinese official said Monday that the nation wants a prompt settlement, but gave no details on progress toward a potential deal. China made a conciliatory gesture last week when it said it would waive tariffs on American soybeans and pork. Technology sector stocks have been particularly sensitive to developments on trade because many of the companies rely on China for sales and supply chains. Apple fell 1.3% and chipmaker Micron Technology slid 2.8%.Abiomed led the slide in health care stocks, sliding 4.4%.

KEEPING SCORE: The S&P 500 index fell 0.2% as of 3:30 p.m. Eastern time. The Dow Jones Industrial Average slid 57 points, or 0.2%, to 27,957. The Nasdaq fell 0.2%. The Russell 2000 index of smaller company stocks slipped 0.1%.BIG PHARMA GOES SHOPPING: Several old-guard drug developers made billion-dollar purchases to beef up their development of potential cancer treatments.

DISCOUNT DRUGS: Health insurer United Health Group is buying Diplomat Pharmacy to help bolster its pharmacy benefits unit, OptimRx. The deal is being made at a steep discount, which sent Diplomat’s stock plunging 32.4%. UnitedHealth slipped 0.4%. Investors will get a revised report on worker productivity for the July-September quarter on Tuesday. Data released in November showed a decline for the first time since late 2015.

Cheers to the market crashing so we can say i told you so to Trump. Here here !!!!

Envy. Of. The. World.

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