Life science tools industry drags healthcare in S&P 500

Trading Charts on a Display

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  • Driven by the makers of life sciences tools, the healthcare stocks in the S&P 500 have pared the gains made last week as the sector is set to become the second-worst performer in the broader index on Tuesday.
  • IDEXX Laboratories (IDXX), Agilent Technologies (A), Bio-Rad Laboratories (BIO), and Danaher (DHR) are among the sharpest decliners in the S&P 500 today as market observers attribute the underperformance to the renewed inflationary pressures and supply chain constraints.
  • With geopolitical issues and inflationary concerns impacting the subsector, the iShares U.S. Medical Devices ETF (NYSEARCA:IHI) is trading lower for the third straight session.
  • Read: Healthcare sector outperformed all other components in the S&P 500 last week while market strategists highlighted its defensive nature.

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