Wall Street retreated from its recent rally as a selloff in health care stocks dragged on markets. Stocks jumped within range of records a day earlier after the Federal Reserve hiked rates, backing faith in the U.S. economy. Snap (SNAP) traded at its lowest level ever following days of declines. The disappearing messenger app fell after being initiated at sell by MoffettNathanson analysts. The firm cited risks like slowing daily active user growth, limited revenue and profitability. Guess? (GES) tumbled after issuing a soft outlook. Same-store sales for its first quarter are expected to fall in the mid-to-high teens percentage range. Fourth-quarter earnings also missed estimates. GoPro (GPRO) surged after affirming its first-quarter guidance at the high-end of its previous range. The action camera maker also announced restructuring efforts that will reduce adjusted operating expenses.
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