U.S. equity and stock exchange traded funds weren’t able to maintain their momentum, following the Federal Reserve rate hike decision on Wednesday, as the healthcare sector drags on the broader market.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were 0.2% lower Thursday.
The healthcare sector was the worst performing area of the market, with the Health Care Select Sector SPDR (NYSEArca: XLV), the largest healthcare exchange traded fund, down 1.2%.
Investors were concerned about Obamacare’s outlook as the House Republican health plan, the main element in the effort by Republicans to replace most of the Affordable Care Act, passed through Congress by a narrow vote, the Wall Street Journal reports.