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By Staff Reporters
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The NASDAQ and S&P 500 fell to two-week lows, adding to last week’s declines, as investors continued to digest hawkish Fed comments and recession risks.
Here is where the major benchmarks ended today:
- The S&P 500 Index was down 19.51 points (0.5%) at 4,328.82; the Dow Jones Industrial Average (DJIA) was down 12.72 points at 33, 714.71; the NASDAQ Composite was down 156.74 points (1.2%) at 13,335.78.
- The 10-year Treasury note yield (TNX) was down about 2 basis points at 3.714%.
- CBOE’s Volatility Index (VIX) was up 0.77 at 14.21.
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UnitedHealth Group related more people were using the healthcare system (bad news for insurers), and no one exactly knew why. Then yesterday, the sleuths at UBS published a note with a clever hypothesis: Rising healthcare utilization rates could be fueled by…pickleball injuries.
UBS calculated that the game’s surging popularity—among seniors, in particular—will contribute $377 million in medical costs this year for procedures like hip replacements and knee surgeries, Bloomberg reported.
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Filed under: Breaking News, Financial Planning, Investing, LifeStyle | Tagged: CBOE, DJIA, DOW, NASDAQ, pickleball, S&P 500, Treasury Yield, UBS, UHC, UHG, UnitedHealth Group, volatility | Leave a comment »
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