Discovery Ltd. extended its slump in Johannesburg trading, dropping the most since December 2015, as some investors fretted over the outlook for the medical insurance administrator under South African plans to shake up the country’s health insurance system.
Discovery fell as much as 11% Monday before paring the decline to 5% as of 1:47 p.m. At its lows for the session, Discovery was heading for its worst two-day plunge on record.