Worst performing stocks on the day when US markets crashed after red-hot inflation data | The Financial Express

Worst performing stocks on the day when US markets crashed after red-hot inflation data

Blame it on the red-hot inflation data, billions of dollars were wiped off by the time the day’s session ended.

Worst performing stocks on the day when US markets crashed after red-hot inflation data
All S&P 500 sectors were down at least 1%, and fewer than 10 of the components were trading higher, indicating widespread weakness.

US inflation numbers for August announced on Tuesday sent shock-waves across the US stock market. US shares fell big-time, finishing just off their low points with S&P 500 and Nasdaq seeing their worst day since June 20. Blame it on the red-hot inflation data, billions of dollars were wiped off by the time the day’s session ended. As a setback for the growth stocks, the value stocks outperformed growth by 170 basis points. FANMAGs, media/entertainment, credit cards, homebuilders, retail, autos, profitless tech, and tech hardware led to a decline in the indices. Energy, utilities, food, property and casualty insurance, and agriculture chemicals fared well.

All S&P 500 sectors were down at least 1%, and fewer than 10 of the components were trading higher, indicating widespread weakness. The worst-hit tech-heavy industries include information technology, consumer discretionary, and communication services, all of which are down by about 4%. The S&P has remained mired in a range between 3,900 and 4,300.

Also Read: Will US Fed go for 50 bps or 75 bps points hike in the FOMC meeting in September?

The biggest losers of Dow 30 that fell 1,276.37 points, or 3.94%, to settle at 31104.97 were:

Walgreens Boots Alliance -5.16%
Microsoft Corp. -5.50%
Apple Inc. -5.87%
Nike Inc. Cl B -5.93%
Dow Inc. -6.01%
Home Depot Inc. -6.59%
Boeing Co. -7.19%
Intel Corp. -7.19%

The biggest losers of the S&P 500 that fell 177.72 points, or 4.32%, to close at 3932.69 were:

Eastman Chemical Co. -11.43%
NVIDIA Corp. -9.47%
Meta Platforms Inc. -9.37%
Lumen Technologies Inc. -9.14%
Western Digital Corp. -9.13%
Advanced Micro Devices Inc. -8.99%
Caesars Entertainment Inc. -8.62%
Generac Holdings Inc. -8.40%
Whirlpool Corp. -8.35%
NXP Semiconductors N.V. -8.09%

Also Read: Will Apple’s market cap touch 3 trillion dollars again with the launch of new iPhone model?

The biggest losers of the Nasdaq Composite that slid 632.84 points, or 5.16%, to end the day’s session at 11633.57 were:

Cardiff Oncology Inc. -41.12%
Rent the Runway Inc. -38.74%
InMed Pharmaceuticals Inc. -35.73%
Codiak BioSciences Inc. -33.53%
Benitec Biopharma Inc. -28.34%
Edgewise Therapeutics Inc. -24.01%
Venus Concept Inc. -21.52%
Nocera Inc. -19.67%
Braze Inc. -19.27%
PolyPid Ltd. -18.71%

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