NEW YORK (Reuters) – The market value of health care stocks exceeded the capitalization of the financial sector on the benchmark S&P 500 index <.SPX> for the first time since 1992, Standard & Poor’s said on Tuesday.
Financials, the long dominant sector since the mid-bear market of 2000-2002, has lost 51.8 percent of its value since an all-time high level seen on Oct 9, 2007. It has fallen from the first to the fourth position on the ranking of the largest sectors in market capitalization, S&P said in a statement.
(Reporting by Walter Brandimarte; Editing by Diane Craft)
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