Market decline

Materials and tech stocks lead US stock market decline – US Daily Sector Wrap


US stocks fell 0.7% today, fueled by a 1.5% drop in materials stocks and a 1.0% decline in tech stocks. Materials inventories are currently up 19.8% year-to-date and 37.1% in the past 12 months. Tech stocks are currently up 23.6% year-to-date and 43.4% in the past 12 months. Meanwhile, the S&P 500 Index is currently up 20.4% year-to-date and 34.2% in the past 12 months. The Dow Jones Industrial Average is currently up 17.6% year-to-date and 29.7% in the past 12 months.

Sector performance

  • The S&P 500 Index fell 0.7%.
  • Healthcare stocks rose the most, gaining 1.2%.
  • Materials stocks fell the most, falling 1.5%.
  • Other sectors that gained include consumer staples, utilities and real estate, which grew an average of 0.0%.
  • Other sectors that declined included technology, energy and financials, which fell an average of -0.8%.

Relative sector performance

  • Compared to the S&P 500 Index, healthcare stocks outperformed the most by + 1.9%. Consumer Staples stocks were the second best performer with a relative outperformance of + 0.7%.
  • Other sectors that outperformed the S&P 500 index were utilities, real estate and industrials by + 0.7% on average.
  • Relative to the S&P 500 Index, stocks in the materials sector were the most underperforming by -0.8%. The tech stocks were the next worst performer with a relative underperformance of -0.4%.
  • Other sectors that underperformed the S&P 500 Index included energy by -0.0% on average.

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