Pulled lower by UnitedHealth Group’s ( UNH) paring back of its forecasts for 2025—the news has the giant’s shares down roughly 19% in early action—the group is dropping Thursday. (Read Investopedia’s live coverage of today’s trading here .) The S&P 500’s health care sector was recently about 0.3% lower.

The stock fell as much as 20%, dragging industry peers Humana and CVS lower as well.

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.