02:07 PM EDT, 04/04/2025 (MT Newswires) -- Health care stocks slumped Friday afternoon, with the NYSE Health Care Index falling 4.2% and the Health Care Select Sector SPDR Fund (XLV) dropping 4.1%.

The iShares Biotechnology ETF (IBB) fell 4.1%.

In corporate news, GE HealthCare Technologies ( GEHC ) fell 12% after China restricted exports of a rare earth metal used in MRI scans as part of its retaliation against the Trump administration's latest tariffs.

Varex Imaging ( VREX ) shares dropped 18% after the company said China's Commerce Ministry announced an anti-dumping investigation into imports of some medical CT X-ray tubes originating in the US and India. Varex said it has yet to receive any formal notice of the probe.