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All three major indexes fell into the red Friday, with the Dow Jones Industrial Average (^DJI) falling more than 400 points.
UnitedHealth (UNH) shares dragged the Dow lower Friday afternoon. The healthcare company tumbled 8% in afternoon trading after a report said the Department of Justice is probing its Medicare billing practices.
Consumer sentiment also took a hit this month as Americans anticipate tariff-induced price hikes. The University of Michigan’s consumer sentiment index tumbled to 64.7 at the end of February, below January’s 71.7, according to data published Friday. Consumers also expressed a worsened outlook for inflation in the year ahead.
The S&P 500 (^GSPC) shed 0.5% while the tech-heavy Nasdaq Composite (^IXIC) lost 0.7%, reversing earlier gains.
The benchmark S&P 500 and Nasdaq are on track for weekly wins, while the Dow is staring at a loss.
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