On second review, the reason for the drop today is a sector wide drop of 10%+ in the health care insurance stocks.
Humana, Healthspring, United Health, Coventry Health Plan, Wellcare Health plan, …
Ford announced a deal with the UAW over retired health care coverage. There is also a blurb about TARP funds being pushed into Medicaid, or maybe something is happening behind the scenes regarding universal health care….
*** Update ***
And the answer is – the Obama adminstration has found a place to cut spending – Medicare!. Expect the media to howl about President Obama wanting to kill all the old people… what’s that silence?… Hello?…. Anyone there?….