The Dow Jones Industrial Average lost 450 points, or 1%, and the Nasdaq composite sank 0.5%. Walmart drove the market lower after falling 6.5%, even though the retailer reported stronger profit for the latest quarter than analysts expected.

Wall Street is pulling further from its record after reports on Friday showed worries about President Donald Trump's policies may be hitting the U.S. economy.

This is Buffett’s 60th year at Berkshire’s helm and the company has record operating earnings in the first nine months of 2024 and a record stock price.

UnitedHealth is under investigation by the Justice Department over its Medicare billing practices and how it records diagnoses. Shares dropped about 9% in midday trading, weighing on the Dow industrials.

UnitedHealth Group stock dived Friday following a report that said the Justice Department had launched a civil fraud investigation into the company’s Medicare billing practices. The DOJ probe aims to examine the healthcare company’s practices for documenting diagnoses that trigger extra payments to its Medicare Advantage plans,