Dow drops over 200 points as stocks open lower

U.S. stocks opened with broad losses Tuesday, with the Dow Jones Industrial Average dropping more than 200 points as rising bond yields contributed to a global equity selloff. The Dow was off 209 points, or 0.8%, while stocks overall saw additional pressure from a selloff by health care shares. The sector came under pressure after Amazon.com Inc. , Berkshire Hathaway and JPMorgan Chase announced they were teaming up to find ways to cut health-care costs. Dow component United Health Group dropped 5.6%, while Express Scripts dropped more than 9% to lead S&P 500 decliners. The S&P 500 fell 0.7% to 2,834, while the Nasdaq Composite lost 0.8% to 7,403.

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From:: Stock Market News

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