Health stock sell-off poised to hit worst drop since 2009

Investors continued to drop health stocks for the ninth day Jan. 25, tying the sector's longest sell-off since 1994, according to Bloomberg.

So far in January, the healthcare sector has dropped more than 9 percent and is expected to experience its largest monthly drop since 2009. Last January, the sector saw a 24 percent increase.
 
The downward spiral comes amid concerns about rising rates and a broader market retreat, Bloomberg reported. Additionally, investors have been turning away from once sought after pandemic stocks as the market gains optimism about COVID-19. 

Oppenheimer strategist Jared Holz told Bloomberg that the healthcare stock slump has been potentially "grimmer than COVID."  

"The sector is mired in this macro-oriented sell-off while suffering from a lack of a big picture narrative to bring investors back in," Mr. Holz told Bloomberg.

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