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The major U.S. equities indexes were mixed at midday Thursday, with the Dow Jones Industrial Average down close to 400 points as UnitedHealth Group (UNH) shares plunged. The tech-heavy Nasdaq and the S&P 500 were slightly higher.
UnitedHealth Group (UNH) shares led Dow and S&P 500 decliners, after the healthcare group pared back its forecasts, citing higher costs. Its slump weighed on shares of other insurers, including Humana (HUM), Elevance Health (ELV) and CVS Health (CVS).
Nvidia (NVDA) and Advanced Micro Devices (AMD) slid, extending Wednesday's declines after they warned of a hit from new export curbs to China. Broadcom (AVGO) shares also lost ground.
Eli Lilly (LLY) led S&P 500 gainers after the pharmaceutical giant released promising trial results for its oral drug pill orforglipron. Shares in rival Novo Nordisk (NVO) fell as BMO downgraded the Danish drug developer, citing its loss of its lead in the weight-loss drug race.
Netflix (NFLX) shares rose as the streamer, which is slated to report first-quarter results after markets close, is viewed by analysts as mostly shielded from tariffs and an economic downturn.
Crude oil futures and the yield on the 10-year Treasury note rose. The U.S. dollar rose against the euro and yen and lost ground against the pound. Prices for major cryptocurrencies mostly gained.
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