The sell-off followed reports from Jefferies analysts highlighting that Intuitive Surgical failed to raise its growth forecast for Da Vinci robot procedures, a move that fell short of aggressive investor expectations. Furthermore, the company faces a cooling trend in U.S. robot-assisted surgeries, driven by patients deferring non-emergency procedures due to shifts in insurance coverage. While the company maintains a robust balance sheet and gross margins that outperformed consensus estimates, analysts responded by trimming their growth projections for the firm.

Sector-wide pressure was compounded by news from GSK. The U.K.-based pharmaceutical company confirmed it is abandoning development of an experimental chronic cough treatment after late-stage clinical trials failed to demonstrate sufficient efficacy. These individual corporate setbacks, combined with broader risk-off sentiment on Wall Street, overshadowed positive consumer confidence data reported earlier in the day.