Stock Market Continues to Decline Amidst Healthcare Losses and Rising Interest Rates

The stock market experienced modest losses, with the Nasdaq composite and Dow Jones Industrial Average both down 0.3% and the S&P 500 down 0.1%. Palantir Technologies' stock continued to decline, losing over 6% and sinking below its 10-week moving average. Avnet rallied over 9% after beating earnings and sales estimates. Dow Jones stock Walmart erased gains and is now down 1.9%, while Cisco Systems gained 4.2% after reporting better-than-expected earnings. Buffett-backed StoneCo and Wolfspeed both saw their stocks decline after reporting earnings. CVS Health plummeted over 9% on news of losing Blue Shield of California as a pharmacy benefit manager. Hawaiian Electric sank over 19% due to potential liability in the Maui wildfires.