U.S. stocks are skidding Monday as another day of big losses takes the market to its lowest level in more than a year. Retailers and technology stocks are sinking, and health insurers and hospitals are falling after a federal judge in Texas ruled that the 2010 Affordable Care Act is unconstitutional.
Many experts expect the ruling will be overturned, but with the markets suffering steep declines in recent months, investors didn’t appear willing to wait and see.
Some of the biggest losses are going to utilities and real estate companies, which have done better than the rest of the market during the turbulence of the last three months. The price of oil closed below $50 a barrel for the first time since October 2017.