Risk Aversion, AstraZeneca Weigh on Health Care Sector -- Health Care Roundup

Features Dow Jones Newswires

Shares of health-care companies slipped, caught up in a wave of risk aversion that began in the tech sector.

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The iShares Nasdaq Biotech index fell roughly 2%--for its biggest decline in a month--as traders dumped high-risk biotech shares.

Shares of British drug giant AstraZeneca plunged after one of its immuno-oncology drugs failed to help patients fight off cancer in a clinical trial.

Shares of Bristol Myers Squibb, another drug maker who has put a lot of resources into its immuno-oncology program, declined even after it posted earnings ahead of Wall Street targets.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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July 27, 2017 17:14 ET (21:14 GMT)