Shares of UnitedHealth Group, the largest U.S. insurer, fell nearly 6% on Friday as authorities continue to search for the man who killed Wednesday Brian Thompson, one of its managers.
As of 11:20 a.m. New York time, the company was down 5.91%, adding to an additional 5% decline on the New York Stock Exchange at the close of trading yesterday.
Since 2021, Thompson has been CEO of UnitedHealthcare, the division of UnitedHealth Group that specifically deals with provision of health services within a large structure where there are also departments that deal with customer access and financing.
These drops come as the New York Police Department (NYPD) continues to try to track down the shooter who shot Thompson at point-blank range Wednesday outside the Hilton Midtown hotel in Manhattan. Furthermore, social media has become a breeding ground for all kinds of theories, with millions of people expressing their dissatisfaction with the way US insurance they are moving forward. Although the motive for the murder is still unknown, the hypothesis cannot be ruled out that it could be the result of discontent and mistrust towards the insurance sector.