NEW YORK (AP) — U.S. stocks moved broadly lower on Wall Street in early trading on Tuesday, reversing course from a three-day rally.
Health care and consumer products companies led the market lower. Walgreens Boots Alliance plunged after it slashed its forecast following a weak quarter. Competitor CVS followed it lower.
Technology and financial stocks bucked the downward trend. Apple and Cisco both made gains. Ameriprise Financial rose 3.4%.
Dow Inc. rose 4.4% in its first day of trading after being spun off from chemical maker DowDuPont.
KEEPING SCORE: The Dow Jones Industrial Average fell 44 points, or 0.2% as of 10 a.m. The S&P 500 index fell 0.1% and the Nasdaq composite index fell 0.2%.
TAKE AN ASPIRIN: Walgreens had a headache of a quarter as insurers trimmed prescription costs, generic drug prices dropped and brand-name medication prices stalled.
Al those factors resulted in a 14% drop in second-quarter profit, which the company's CEO described as the most difficult quarter the nation's largest drugstore has faced since forming a few years ago.
Walgreens also slashed its forecast for 2019.
The stock fell 12% percent and helped push down key competitor CVS Health by 4%.
LIFTOFF: Delta rose 5% after raising its profit forecast for the current quarter. Other airlines also rose. United Continental rose 3% and American Airlines climbed 2%.
By AP reporter Damian J. Troise
