Merck & Co. saw a reversal in its recent winning streak on Tuesday, with shares falling 0.31% to close at $103.03, in stark contrast to the overall positive tone of the market. This happened against the backdrop of a 0.73% rise in the S&P 500 Index and a 0.62% increase in the Dow Jones Industrial Average.
The pharmaceutical giant's stock performance was somewhat mixed compared to its sector peers. Johnson & Johnson (NYSE:JNJ) recorded a slight 0.11% dip in shares, while Pfizer Inc. (NYSE:PFE) experienced a more significant fall of 1.33%.
The drop in Merck's share price comes after it had been enjoying a two-day winning streak. However, even at its peak, the company's stock remained notably below its annual high of $119.65 per share, reached earlier in May.
Trading volume for Merck on Tuesday was slightly below average, with about 6.3 million shares changing hands compared to its 50-day average volume of 6.4 million.
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