Health care stocks fell Wednesday afternoon, with the NYSE Health Care Index shedding 0.7% and the Health Care Select Sector SPDR Fund (XLV) down 0.8%.
The iShares Biotechnology ETF (IBB) declined 1.4%.
In corporate news, Lumos Pharma (LUMO) shares jumped 7.2% after the company agreed to be acquired by a unit of Double Point Ventures.
Fortrea (FTRE) shares popped 2.5% after media reports said that activist investor Corvex Management acquired a stake in the contract research firm.
Boston Scientific (BSX) raised its 2024 guidance on Wednesday after logging stronger-than-expected growth in Q3 results. Its shares were falling 1.2%.
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