Healthcare stocks pull indexes down after GOP bill fails – Los Angeles Times

U.S. stocks and the dollar are slipping Tuesday morning after the latest Republican healthcare bill failed in the Senate. Drugmakers and health insurers are trading lower. Elsewhere, banks are falling as bond yields and interest rates decrease. Streaming video company Netflix is surging after it gained more than 5 million subscribers in the second quarter, which is giving consumer-focused companies a boost.

KEEPING SCORE: The Standard & Poor’s 500 index was down 2 points, or 0.1%, to 2,457 as of 10:10 a.m. Eastern time. The Dow Jones industrial average fell 52 points, or 0.2%, to 21,577. The Nasdaq composite was unchanged at 6,315. The Russell 2000 index of smaller-company stocks fell 3 points, or 0.2%, to 1,428. The Russell 2000 closed at an all-time high Monday; the Dow and S&P 500 set records Friday.

Most of the companies on the New York Stock Exchange traded lower.

HEALTHCARE REFORM: The Senate Republican healthcare bill suffered a potentially fatal setback late Monday when two more GOP senators announced they opposed it, which meant the proposal does not have enough support to proceed to a full vote. Senate leaders said they will next try to simply repeal the 2010 Affordable Care Act without creating a replacement, but that does not appear to have enough votes to pass either.


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