UnitedHealth stock plummets
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Stocks traded mostly higher Tuesday following the release of new data that showed U.S. inflation at the consumer level cooled in April. The consumer price index rose 2.3% year-over-year, the lowest reading since February 2021.
U.S. equities were mixed at midday, with tech shares and a better-than-expected consumer inflation report lifting the S&P 500 and Nasdaq.
UnitedHealth Group (UNH) stock plunged amid CEO resignation and rising medical costs leading to sector-wide selloff in managed care stocks. Read more here.
UnitedHealth's stock was down a whopping $66.68, or 17.6%, in recent trading after the insurer suspended its 2025 guidance and its CEO stepped down. That price decline wiped a
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UnitedHealth CEO Andrew Witty resigns immediately; Stephen Hemsley returns as CEO and chairman as 2025 outlook is suspended due to rising costs.
UnitedHealth shares fell 22.4% on April 17, wiping out about $119 billion of market value, after the insurer lowered its 2025 forecast.