Healthcare stocks finished last in the Standard & Poor's 500 on Tuesday as Republicans made another push to repeal and replace the ACA, according to Barron's.
Sens. Lindsey Graham, R-S.C., and Bill Cassidy, R-La., introduced an ACA repeal bill Sept. 13, and the bill has gained momentum in recent days as Republicans try to whip votes ahead of the Sept. 30 budget reconciliation deadline.
The bill would eliminate the ACA's employer and individual mandates. It would also roll back Medicaid expansion and end federal premium subsidies, instead distributing the money spent on these programs to states in the form of block grants.
The GOP's latest ACA repeal efforts caused iShares U.S. Healthcare Providers to fall more than 2 percent Tuesday, placing it among the worst performing exchange-traded funds, according to Barron's. SPDR S&P Pharmaceuticals and First Trust Health Care AlphaDEX also each dropped more than 1 percent.
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