Health-care companies fell, but not by as much as the broad market, as traders rotated into sectors less susceptible to economic slowdowns.

Vaxcyte shares leapt by more than one third after the drug developer reported promising data for a pneumonia vaccine that protects against more strains, creating a formidable challenge to Merck and Pfizer, currently the market leaders for this niche.

Shares of Pfizer fell almost 3%.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

09-03-24 1708ET