Stock Market Update
20-Aug-26 14:25 ET
Health care trims midweek rally
Dow -611.84
at 52851.21,
Nasdaq -281.36
at 26070.76,
S&P -53.35
at 7654.63
[BRIEFING.COM] The major averages trade on their lows with the Nasdaq (-1.1%) approaching its 50-day moving average (25930).
Equities have faced steady pressure throughout the day amid losses in most sectors. Eight groups trade in the red at this time with five down at least 1.0% and the consumer discretionary sector (-1.8%) showing the widest loss.
Health care (-1.1%) is also among the soft spots today as biotech names run into some quick profit taking after yesterday's Moderna (MRNA 133.76, -40.62, -23.29%) driven surge. Shares of MRNA are down about 40 points from yesterday's high while the SPDR S&P Biotechnology ETF (XBI 163.44, -6.11, -3.60%) has pulled back from its best level since February 2021.
