While selling pressure has remained subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day are partly offsetting the gains posted over the course of the two previous sessions.
Most of the major sectors are showing only modest moves on the day, although notable weakness is visible among healthcare provider stocks. The Morgan Stanley Healthcare Provider Index is down by 1.1 percent, pulling back further off the record closing high that it set last Thursday.
Tenet Healthcare (THC) and Health Management Associates (HMA) are turning in two of the healthcare provider sectors worst performances.
Housing stocks have also come under pressure over the course of the session, dragging the Philadelphia Housing Sector Index down by 1.1 percent. Ryland Group (RYL) and Meritage Homes (MTH) are posting notable losses.
Electronic storage, telecom, and airline stocks are also seeing some weakness on the day, although selling pressure remains subdued.
The major averages have moved to the downside in recent trading, with the Nasdaq hitting a new low for the session. The Dow is down 18.66 points or 0.1 percent at 15,299.57, the Nasdaq is down 6.65 points or 0.2 percent at 3,475.53 and the S&P 500 is down 2.79 points or 0.2 percent at 1,649.02.
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