Tom Lydon (ETF Trends) submits:
Despite an upbeat report showing that the pace of job losses in the private sector slowed last month, Wall Street and exchange traded funds turned sour on a variety of weak earnings.
Fourth-quarter results from Pfizer (NYSE: PFE) missed estimates. The world’s largest drug maker also forecast profits that were below expectations. iShares Dow Jones U.S. Healthcare (NYSEArca: IYH) is down 1.3% so far this morning; Pfizer is 10.6%.
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