Wall Street Slips With Healthcare Stocks, Nasdaq Flat - Dollar Advisory & Financial Services

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Friday 17 March 2017

Wall Street Slips With Healthcare Stocks, Nasdaq Flat

US stocks slipped on Thursday pressured by healthcare shares as traders cashed in gains from one of the best performing sectors so far this year.

Proposals in President Donald Trump's budget signalled higher regulatory costs for the sector and a cut in federal funding for medical research. Though still a ways away from becoming a reality, they gave traders a reason to sell.

The S&P 500 healthcare index dropped 0.9 percent.

Financials outperformed in a rebound after the sector was the worst performer on Wednesday and as the benchmark US Treasury note yield rose, while utilities weakened.

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