Amazon, Berkshire Hathaway and JPMorgan’s Announced Health Care Partnership Putting Downward Pressure on Stocks.
Amazon (NASDAQ: AMZN), Berkshire Hathaway (NYSE: BRK.A, BRK.B) and JPMorgan Chase & Co. (NYSE: JPM) announced today that they are partnering on ways to address healthcare for their U.S. employees. Their press release states that this partnership is designed to be “free from profit-making incentives and constraints” with an initial focus on “technology solutions,” that provides “simplified, high-quality and transparent healthcare at a reasonable cost.” This announcement is appearing to have an immediate impact on companies in the health care industry. Business Insider is reporting that “Shares of insurance providers, benefits managers, pharmacies and other healthcare companies are getting smoked in pre-market trading Tuesday;” Just prior to the opening bell, the Dow Industrial Futures are down about 270 points or 1%
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