Sector Update: Health Care

Health care stocks were falling late Thursday afternoon, with the NYSE Health Care Index down 0.4% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.6%.

The iShares Biotechnology ETF (IBB) dropped 1.5%.

In corporate news, Standard BioTools LAB said Thursday it has initiated a restructuring plan with the reduction of about 10% of its workforce. Its shares shed 0.8%.