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It's Not Just a Bad Day for Chip Stocks. ResMed Is the S&P 500’s Top Decliner.

It's Not Just a Bad Day for Chip Stocks. ResMed Is the S&P 500’s Top Decliner.

ResMed stock was the worst performer in the S&P 500 Monday as Eli Lilly’s weight-loss medicine showed signs of reducing sleep apnea. Lilly said its medication tirzepatide, sold under the brand names Mounjaro and Zepbound, reduced obstructive sleep apnea severity by up to 62.8%. ResMed sells CPAP machines that treat sleep apnea, so this news was not a good sign for investors.