Pulled lower by UnitedHealth Group’s ( UNH) paring back of its forecasts for 2025—the news left the giant’s shares down roughly 22%—the group is dropping Thursday. (Recap Investopedia’s live coverage of today’s trading here .) The S&P 500’s health care sector finished about 0.6% lower.

Shares of United Health Group and other insurance companies fell on Thursday following the industry leader's earnings report and forecast.

UnitedHealth Group, the parent company of UnitedHealthcare, saw a 20% dip in stock values on Thursday. It blamed higher-than-forecast medical spending in its private Medicare offerings. The health insurance company also diminished its guidance for the full year to a range of $26 to $26.