12:59 PM EDT, 09/10/2025 (MT Newswires) -- Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index falling 1% and the Health Care Select Sector SPDR Fund (XLV) easing 1.2%.

The iShares Biotechnology ETF (IBB) dropped 1.4%.

In corporate news, Merck ( MRK ) has canceled plans for a 1 billion pound ($1.35 billion) research center in London and will lay off more than 100 scientific staff, citing the UK's uncompetitive environment and low medicine prices, the Financial Times reported. Merck ( MRK ) shares were down 1%.