5 to 13 percent isn’t a big deal really. I bet it’s not even due to what article implies. investors don’t care about public perception, they’re worried that UHC changed course on a lucrative planned policy (restricting anaesthesia) and might do so again impacting profits.
U.S. regulations have three levels of a circuit breaker, which are set to halt trading when the S&P 500 Index drops 7%, 13%, and 20%.
Granted that’s the main market index not an individual security, but a 5-11% drop is significant. Iirc the last time it ended the day’s trading for the S&P was the start of COVID, when investors ran a fire sale liquidation because nobody knew if the whole world was going to die.
A downswing is a hurdle to recover from in raw math terms, and represents a bigger blow to vibes based trading, especially given the legislative (virtue signaling so far) action on anti-trust, or the current popular sentiment against insurers.
5 to 13 percent isn’t a big deal really. I bet it’s not even due to what article implies. investors don’t care about public perception, they’re worried that UHC changed course on a lucrative planned policy (restricting anaesthesia) and might do so again impacting profits.
That was Anthem Blue Thingy that changed course, not UHC.
Ah yes thanks for that you’re right
Wut?
Granted that’s the main market index not an individual security, but a 5-11% drop is significant. Iirc the last time it ended the day’s trading for the S&P was the start of COVID, when investors ran a fire sale liquidation because nobody knew if the whole world was going to die.
A downswing is a hurdle to recover from in raw math terms, and represents a bigger blow to vibes based trading, especially given the legislative (virtue signaling so far) action on anti-trust, or the current popular sentiment against insurers.