Abbott Stock Drops Nearly 9% On Prospective Global Biochip Market

(RTTNews) - Abbott Laboratories (ABT) fell 8.49 percent to $120.56 on Tuesday, despite no company-specific developments. The decline occurred as broader market discussions highlighted growth prospects in the global biochip market, projected to reach $27.8 billion by 2029 from $16.1 billion in 2024, driven by demand for advanced diagnostics and personalized medicine.

ABT opened at $126.55 and traded between $119.77 and $126.86 during the session, compared to a prior close of $131.74 on the New York Stock Exchange. Volume surged to 18.5 million shares, well above its average of 6.1 million. The stock's 52-week range stands at $99.71 to $141.23.