UnitedHealth Group shares plunged 16% to hit a five-year low after the Wall Street Journal reported that the DOJ was investigating the company for potential Medicare fraud.
Read More UnitedHealth tumbles as criminal probe report adds to investor fears
The Justice Department has launched a probe into UnitedHealth’s Medicare billing practices in recent months, sending the healthcare conglomerate’s shares nearly 12% lower.
Read More US probes UnitedHealth’s Medicare billing practices, WSJ reports
The S&P 500 was muted and Nasdaq inched lower on Monday in the run-up to an action-packed week that includes the Federal Reserve’s policy meeting and inflation data.
Read More S&P, Nasdaq muted as markets brace for inflation and Fed