The sell-off has been particularly hard on the medical devices ETF, the iShares U.S. Medical Devices ETF (NYSEArca: IHI), which was 1.4% lower Tuesday. IHI portfolio holdings include ABT 10.9%, MDT 10.8% and COV 7.4%.
“Those are the stocks that are weak today, any of those companies that are in the process of using an inversion tax tactic,” Tim Ghriskey, chief investment officer of Solaris Group, said in a Reuters article.
Health Care Select Sector SPDR
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