Stocks Continue Downward Slide

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as stocks continue downward slide. 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:

Dow drops 500 points, erases 2018 gains as Target and tech shares slide

Spencer Platt | Getty Images News | Getty Images “This looks like lingering worries about what triggered the October decline. That’s worries about an economic slowdown,” said Craig Callahan, president at Icon Funds. “I think these people are wrong, but they’re in control at this time.”

The S&P 500 (SPY) dropped -1.82% today. All 11 sectors finished in the red. Energy (XLE) -3.25% led decliners down. Consumer discretionary (XLY), financials (XLF), industrials (XLI) and technology (XLK) each lost more than 2%. Communication services (XLC), consumer staples (XLP), healthcare (XLV), materials (XLB) and real estate (XLRE) each declined more than 1%. Utilities (XLU) slipped less than 1%.

The Dow Jones index dove 551 points (-2.21%) to close at 24,465. The Nasdaq plummeted 119 points (-1.70%) to settle at 6,908.

Stocks Continue Downward Slide

Stocks continued their spiral downward and lost their gains for 2018 as Target’s earnings report forced most retailers down. Investors kept using technology (XLK) as an ATM as the long favored FAANG trade fell further into bear market. I found the following info regarding the FAANG trade in the above CNBC article, “Tuesday’s decline came a day after members of the popular “FAANG” trade —Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — all closed in a bear market, down more than 20 percent from their 52-week highs.

Key Takeaways…

I took the following CNBC screenshots this morning regarding Cramer’s problems that need solving, FAANG in free fall and % away from 52 highs:

Stocks Continue Downward Slide

Stocks Continue Downward Slide

Stocks Continue Downward Slide

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

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.

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11/21/18

S&P 500 Sector Graph

Stocks Continue Downward Slide

S&P 500 (SPY)

Stocks Continue Downward Slide

Communication Services (XLC)

Stocks Continue Downward Slide

Consumer Discretionary (XLY)

Stocks Continue Downward Slide

Consumer Staples (XLP)

Stocks Continue Downward Slide

Energy (XLE)

Stocks Continue Downward Slide

Financials (XLF)

Stocks Continue Downward Slide

Real Estate (XLRE)

Stocks Continue Downward Slide

Healthcare (XLV)

Stocks Continue Downward Slide

Industrials (XLI)

Stocks Continue Downward Slide

Materials (XLB)

Stocks Continue Downward Slide

Technology (XLK)

Stocks Continue Downward Slide

Utilities (XLU)

Stocks Continue Downward Slide

S&P 500 Sector Heat Map

Stocks Continue Downward Slide

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