Comments from several CEOs at major U.S. companies appeared to spook the stock market Dec. 6 as the Dow Jones Industrial Index declined sharply for a second straight day, CNN reported.
The index was down over 500 points in midday trading before recovering slightly to close about 350 points down, or approximately 1.03 percent. The index fell a similar amount Dec. 5.
Consumer confidence was low due to persistent inflationary pressures, commented Walmart CEO Doug McMillon, while there is a strong possibility of a "mild to hard recession," according to JPMorgan Chase CEO Jamie Dimon.
One rare stock that stemmed the tide was UnitedHealth Group, which ended up a few points to close at 539.6.
Inflationary pressures have been a major drag on healthcare stocks and financial results, as hospital groups largely continue to struggle to fulfill supplies and secure enough labor.