Shares of selected publicly traded healthcare providers were down even more than the broader market, with several falling by percentages in the double digits.
Healthcare stocks post double-digit losses
Among them, hospital giant HCA, Nashville, fell 17.3%, Community Health Systems, Franklin, Tenn., dropped 16.2%, and Universal Health Services, King of Prussia, Pa., fell 11.9%, all on a day when the broader market, as measured by the Standard & Poor's 500 index, fell 6.7%.
Post-acute-care company stocks also took big hits in trading, including the share price of Brookdale Senior Living, Brentwood, Tenn., which fell 14.8%, while HealthSouth Corp., Birmingham, Ala., fell 13.2%, and Select Medical Holdings Corp., Mechanicsburg, Pa., dropped 11.5%.
The broader market fell in the wake of the news that Standard & Poor's had downgraded the U.S. credit rating to AA+ from AAA.
The Dow Jones Industrial Average plummeted 634.76 points, or 5.6%, to 10809.85.
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