In a shocking turn of events, Andrew Witty has resigned as CEO of UnitedHealth Group, triggering a 17% stock drop and raising concerns over the company's future amid rising medical costs and a recent antitrust lawsuit.
Krispy Kreme's stock dropped 24% following an announcement to reassess its partnership with McDonald's. With economic concerns affecting spending, the doughnut chain has pulled its outlook for the year.
UnitedHealth Group's shares plummeted 23% in midday trading following a rare earnings miss, erasing nearly $120 billion in market value due to unexpected medical costs and higher care utilization.
US stock markets experienced a significant drop fueled by rising inflation fears and concerns over Trump's tariffs. Consumer sentiment decline and economic data weakness add to the market volatility.
