Drug stocks hit by Amazon health push, tech steadies Wall Street
Updated : June 29, 2018 06:05 AM IST
Amazon.com said it would buy online pharmacy PillPack, sending shares of drug distributors and retailers tumbling.
The S&P health sector dropped 0.61 percent, the most among the 11 S&P sectors, while Amazon gained 1.2 percent.
Amazon plans to entice entrepreneurs to set up their own package-delivery businesses sent shares of United Parcel Service and FedEx skidding more than 2 percent.
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