Massive Selloff Forces Stock Market Correction
Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map after a massive selloff forces stock market correction. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:
U.S. stock futures opened sharply lower on Sunday as Wall Street added to the large losses set last week. Dow Jones industrial average futures fell 132 points, while S&P 500 and Nasdaq 100 futures declined 13 points and 26.25 points, respectively. The major U.S.
The S&P 500 (SPY) dropped a whopping 4% today as a massive selloff forces stock market correction. All 10 sectors were in the red by at least more than 1%. 9 out of the 10 sectors had a more than 2% loss on the day.
The Dow Jones index fell into correction territory giving back 1,175 points in one session ending at 24,345. The Nasdaq was a blood bath losing 273 points closing at 6,967.
Stocks dropped off a steep decline as the selloff continued from Friday. The Dow lost a jaw dropping 1,175 points today falling below 25,000. The S&P 500 had its worst day in six years and gave back all its gains from this year. Stocks needed to take a break, they can’t go straight up as certain ones blew past price targets one after another…ex. Amazon.
It was a sea of red across the board today. Notable losers in the S&P 500 included MSFT -4%, FB almost -5%, BRK.B almost -6%, JNJ -5%, XOM almost -6% and GOOGL -5%.
Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.
S&P 500 Sector Graph
S&P 500 (SPY)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Real Estate (XLRE)
S&P 500 Sector Heat Map