Healthcare Stocks Slide After Trump Says “Drug Prices Out Of Control”

Monday, October 16, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Oct 16, 2017

Another day, another Trump soundbite to bring the algos out of hibernation. Moments ago the commented on tax and welfare reform, stating that “some people are taking advantage of the system while others are not receiving enough to live.”

TRUMP SAYS LOOKING TO REDUCE GOVERNMENT SPENDING HEADING INTO NEXT BUDGET SEASON
TRUMP SAYS LOOKING AT WELFARE REFORM IDEAS
TRUMP SAYS SOME PEOPLE ARE TAKING ADVANTAGE OF THE SYSTEM WHILE OTHERS ARE NOT RECEIVING ENOUGH TO LIVE

But what really spooked the market was Trump reprising Hillary circa the summer of 2015, when the president said that “prescription drug prices are out of control.”

TRUMP SAYS PRESCRIPTION DRUG PRICES ARE OUT OF CONTROL

This was enough for the headline scanning algos to immediately send the IBB, XBI and the S&P healthcare index tumbling, wiping out the day’s gains.

The Rest…HERE

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