Healthcare Stocks Slide as Fed Turns More Hawkish, Raising Rate Worries

Healthcare stocks fell as investors weighed the Federal Reserve’s more hawkish tilt and the prospect of higher interest rates. The move sparked concerns about pressure on companies’ funding needs. Investors also appeared to rotate back into technology shares after earlier flows into more defensive sectors. Moderna rose for a sixth straight session as an FDA advisory committee reviewed its influenza vaccine, according to Dow Jones Newswires.