03:40 PM EDT, 04/10/2025 (MT Newswires) -- Health care stocks were falling late Thursday afternoon, with the NYSE Health Care Index shedding 2.3% and the Health Care Select Sector SPDR Fund (XLV) down 3.1%.

The iShares Biotechnology ETF (IBB) slumped 4.8%.

In corporate news, Novartis ( NVS ) plans to invest $23 billion in building and expanding 10 facilities in the US over the next five years in response to possible drug import tariffs under the Trump administration, Reuters reported Thursday. Novartis ( NVS ) shares were down 0.7%.