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“The market expects a trade deal with China, so there is a little bit of sell on the news here,” added Levine, who said stocks ultimately could still move higher on a trade deal silver cufflinks. The Dow Jones Industrial Average fell 206.67 points, or 0.79 percent, to 25,819.65, the S&P 500 lost 10.88 points, or 0.39 percent, to 2,792.81 and the Nasdaq Composite dropped 17.79 points, or 0.23 percent, to 7,577.57. Levine and other market watchers also pointed to the 2,800 level for the S&P 500 as a key technical level. The benchmark index rose as high as 2,816.88 during the session..
“You’d have to point the finger (for the market’s drop) at the China trade negotiations and the fact that we hit technical resistance again at 2,800 on the S&P 500,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. Healthcare, which has underperformed this year, was the biggest declining major S&P 500 sector, sinking 1.3 percent silver cufflinks. Shares of UnitedHealth Group fell 4.1 percent, weighing on the Dow, while shares of other health insurers also fell sharply..
In healthcare news, Reuters reported that OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from lawsuits alleging the company contributed to the opioid crisis, sending shares of some publicly-traded sellers of opioid pain treatments lower. Still, indexes finished above their session lows. Materials rose 0.44 percent, the most among the S&P 500 sectors. In corporate news, AT&T shares fell 2.7 percent as the company is restructuring its WarnerMedia business, according to a memo sent to employees on Monday and seen by Reuters silver cufflinks.
(Reuters) – Tesla Inc Chief Executive Officer Elon Musk said on Monday production of the $35,000 version of the electric carmaker’s Model 3 will start this month, but would not reach “volume production” until mid-year. ‘Gap in understanding is that $35k Model 3 production *starts* this month, but will not reach volume production until mid year. Extremely difficult to predict middle part of manufacturing S-curve,’ Musk said in response to a tweet here. It was not immediately clear what Musk meant by “volume production”. Tesla did not respond to a request for comment silver cufflinks.
NEW YORK (Reuters) – General Electric Co is setting aside one of the largest amounts ever to cover potential losses on policies that provide long-term care in nursing facilities and patients’ homes silver cufflinks. But insurance experts are concerned that may not be enough. GE shocked investors last year when it took a $6.2 billion after-tax charge and said it planned to set aside $15 billion over seven years to cover claims on some 300,000 long-term care policies written more than a decade ago, when actuaries did not yet know how costly the claims would become..