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.
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.
That was Anthem Blue Thingy that changed course, not UHC.
Ah yes thanks for that you’re right