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
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Sechel
Sechel

had an argument with a co-worker that we can't have a significant correction of more than 30-40% unless we get double digit interest rates

Staaycalm
Staaycalm

I found a hiding place....VanEck Merk Gold Trust (OUNZ) 12.97 +.02 (+.15%)

Onni4me
Onni4me

Interesting times. I've been looking for a retail space here in Finland. Plenty of them available in city centers. Quite a many of them been empty 24 months and more than one have 36 months of unpaid utility bills (when buying you are entitled to see the books). I see a lot of bankruptcies ahead... My business is solid and not much change but it is very niche market.

CzarChasm-Reigns
CzarChasm-Reigns

I suggest we move this goal post too: making 20% the new percentage classifying a market correction in an everything bubble environment. Then everyone can feel better.

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