Euro Health Stocks No Longer Insulated From Global Selloff -- Market Talk

European pharma stocks slump as the market drops on reinvigorated trade tensions between China and the U.S. and as a broad sell-off reverberates through bourses. Once insulated from broader market downswings--for example, in the market reaction to a troubled Brexit deal between the U.K. and the EU, European pharma shares bucked the downward trend on account of their global nature--the Stoxx 600's health care sector is now down 1.5%. All major European pharma players drop. Novartis, Roche, Astra, GSK, and Sanofi all shed between 1% and 2%. Bayer is down 2.8%. ([e-mail]; @donatopmancini)

(END) Dow Jones Newswires

December 06, 2018 05:10 ET (10:10 GMT)

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