A warning from UnitedHealth Group executives Wednesday that demand for medical services was rising sent insurance stocks tumbling and, in turn, hit investors who bet on health care.
The biggest health-care exchange-traded fund, the $41 billion Health Care Select Sector SPDR Fund (XLV) , lost 1% Wednesday.
The $17 billion Vanguard Health Care ETF (VHT) also fell about 1%.
XLV 5D mountain The XLV was dragged down by insurance stocks on Wednesday.
Some Wall Street analysts said the dramatic sell-off in typically stodgy insurance stocks could prove to be a buying opportunity.
Persons:
John Franklin Rex, Rex, that's, Cantor Fitzgerald, Sarah James, — CNBC's Michael Bloom
Organizations:
UnitedHealth Group, Humana, CVS Health, Health Care, CVS, Devices, Abbott Laboratories