Healthcare Stocks Boost Markets
Investor concerns over rising interest rates and inflation led to a decline in AI-dependent tech companies. However, with the improved performance of the healthcare sector, both American and European stocks rose on Thursday. The S&P 500 index gained 0.33%, supported by pharmaceutical stocks such as Eli Lilly and UnitedHealth. Meanwhile, the Nasdaq saw a slight pullback, with the technology sector affected by sell-offs in companies like Nvidia and Intel due to funding worries and higher borrowing costs. In Europe, stocks rose supported by strong earnings and an active healthcare sector, amid expectations of interest rate hikes in the Eurozone. In the Gulf region, stocks declined, particularly in Qatar and Saudi Arabia. Japan’s stocks plunged sharply due to concerns over tech company debts, while the pharmaceutical sector surged to become the best performer on the Tokyo Stock Exchange.
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