CVS Stock Drops on Centene-WellCare Merger: Stock Market Analysis

CVS Drops 2% on Centene Acquisition News

Todd Peters, senior vice president at Adviser Investments, has the market analysis for Wednesday, March 27. After initial advances, all major U.S. stock market indexes closed the day down: The Dow Jones Industrial Average, S&P 500 and NASDAQ dropped 0.1%, 0.5% and 0.6% , respectively. Meanwhile, health insurer Centene made headlines with its announced $15 billion purchase of rival WellCare Health Plans, and CVS’ stock fell 1.8% in response to the acquisition news. In addition, 10-year Treasury bond yields dipped to the lowest level since December 2017 .

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