Why CVS Health Is Falling Again
For the second day in a row, shares of CVS Health (NYSE: CVS) are under pressure, falling as much as 5% on Tuesday. Once again, there isn't any company-specific news that can explain the big drop. That means that the most likely cause of the decline is the general market sell-off that is linked to the continued spread of the coronavirus.
The last few days have been brutal for investors. All three of the major U.S. stock market indices -- the Dow Jones Industrial Average (DJINDICES:^DJI), the S&P 500 (SNPINDEX:^GSPC), and the Nasdaq Composite (NASDAQINDEX: ^IXIC) -- are down more than 7% from their recent highs. That's a big move in a short period of time.
Health insurance companies have fared even worse than the big indices. Companies such as UnitedHealth Group, Cigna, Humana, and CVS Health (which owns Aetna) have all fallen between 10% and 13% in the last few days.
Source Fool.com
