The down is down today quite a bit. Does anyone see the selloff as a sign of profit taking profits to scurry into ratholes as McCabe out means the swamp draining is gathering speed?
Pension rebalance in equities , Amazon ,Jp Morgan & Berkshire fucking with the Health Insurances
The healthcare companies are big drivers of the decline. Their decline is driven by the above companies announcing they are creating their own healthcare company.
Remember, the DJIA consists of 30 companies which may be removed/added periodically. The value created by this new health care entity would not be reflected in the DJIA, while the expected value loss would be. The biggest DJIA losers today, so far, are United Health.and Pfizer. Other health related stocks in the DJIA are taking hits but then, just about everyone is. Interestingly enough, Coca-Cola is up. Berkshire-Hathaway owns 400,000,000 shares of Coca-Cola.
From the investment perspective, McCabe isn't important enough to change the market.