Amgen Shares Tumble, Dragging Dow Lower as Oil Spikes on Saudi Strikes
AMGN sits 47% above its 52-week low of $269.77.
Summary
Amgen shares fell sharply on Monday, contributing to a 550-point drop in the Dow Jones Industrial Average. The decline made healthcare the worst-performing sector in the S&P 500. The selloff came as oil prices jumped above $99 a barrel after Houthi strikes on Saudi energy infrastructure, adding to investor anxiety. No company-specific news was cited for Amgen's drop, but the stock's move is notable given its large market cap and recent volatility. Traders will watch whether the decline continues into Tuesday's session.
At the time of this announcement, AMGN was trading at $395.68 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $213.9B. The 52-week trading range was $269.77 to $447.03. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.