Another Bloodbath: Sector by Sector Carnage - No Hiding Places

The Dow dropped over 1,000 points again today. Carnage is everywhere. Every S&P 500 sector is in a correction.

Materials

Utilities

Technology

Industrials

Health Care

Real Estate

Financials

S&P 500 All Sectors

No Hiding Places

A correction, defined as a 10% decline from the top, is underway in every sector of the S&P 500. The Industrial sector went into correction three days ago and is just under the 10% threshold today.

Sector by Sector Analysis

  • S&P 500: Down 3.75% today, 10.2% from January high
  • XLB Materials: Down 3.51% today, 10.5% from January high
  • XLU Utilities: Down 1.12% today, 16.1% from November
  • XLK Technology: Down 4.14% today, 10.4% from January high
  • XLI Industrials: Down 3.86% today, 9.8% from January high
  • XLV Health Care: Down 3.47% today, 11.8% from January high
  • XLRE Real Estate: Down 3.13% today, 12.6% from November high
  • XLE Energy: Down 3.02% today, 14.9% from January high
  • XLF Financials: Down 4.40% today, 10.5% from January high

Everything is correlated. There are no sector hiding spots.

This is just a down payment on what's likely ahead.

Mike "Mish" Shedlock

Comments
No. 1-25
Trader_O
Trader_O

I'm sorry but the global cooling legend is pure nonsense. To begin with, a solar minimum has a rather small effect on global temps, up to 0.25 degrees of cooling if even that, while temps are already about 1 degree above the beginning of the 20th century. In addition, the "Little Ice Age" in Europe and North America (and "the year without summer") occurred due to vulcanism, not due to the Maunder minimum. So better to stop spreading this global cooling stuff. Ain't gonna happen.

Mike Mish Shedlock
Mike Mish Shedlock

Editor

Must "everyone" take "everything" literally. I was discussing the S&P 500 sectors. I listed all of them. One person whined that I left off bitcoin. Guess what? I left off gold as well. And also agriculture and moon rocks. https://us.spindices.com/indices/commodities/sp-gsci-agriculture

Cocoa
Cocoa

Playing the volatility is a way to make money. So all those clowns who were 3x short VIX were fleeced. And, if you have colocated computers driving volatility all over the place, and legally are allowed to front run every trade you...could...just shake stock out of weak hands all day long. And then the call from PPT comes in to drive money out of correction. SOMEBODY is making a pile with 10000 point surges and dives in one day. Currency trading as well...

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