Australian healthcare stocks mark worst session since Dec on broader market woes

Imugene

14/06/2022 04:24

** Australia's healthcare stocks  .AXHJ  drop as much as 5%
to mark their worst session since Dec 16, if losses hold 
    ** Fall is in tandem with the broader market decline at
about 4.8%, due to recession worries arising from fears of more
aggressive U.S. rate hikes and fresh COVID-19 outbreaks in China
    ** Index major CSL Ltd  CSL.AX  is down about 5.7%, its
lowest since March 9
    ** Cancer-focused biopharma co Imugene Ltd  IMU.AX  led
losses in the health subindex, falling as much as 13.3%, to hit
its lowest in more than a year 
    ** The subindex has fallen 11.2% this year, as of last
close, compared with a 6.9% decline in the  .AXJO 

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))