Shares of publicly traded healthcare companies joined the broader market as it dived on news of European efforts to prop up ailing financial institutions. The Dow Jones U.S. Health Care Index fell 4.64% as the Dow Jones Industrial Average plunged well below 10,000 before finishing the day at 9,955.5, down 3.58%.
Publicly traded hospital operators Community Health Systems, Franklin, Tenn., Tenet Healthcare Corp., Dallas, and Universal Health Services, King of Prussia, Pa., saw shares decline 6.12%, 9.98% and 4.9%, respectively. One analyst, UBS Justin Lake, recently downgraded all three companies, citing a weak economy as a factor. -- by Melanie Evans