China Retaliation Lead Market Selloff

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as China retaliation lead market selloff. 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 futures point to more than 200-point decline at Monday’s open

American stock indexes are set for a rough start to Monday, futures contracts showed. Dow futures were down more than 270 points as of 8:09 p.m. ET Sunday, implying a decline of more than 240 points for the index at its Monday open.

The S&P 500 (SPY) dropped -2.41% today. Sector decliners led advancers 9 to 2 as shown below in the sector graph. Decliners were led down by technology (XLK) -3.77% and communication services (XLC) -3.10%. Consumer discretionary (XLY), financials (XLF), industrials (XLB), materials (XLB) each lost more than 2%. Energy (XLE) and healthcare (XLV) each lost more than 1%. Consumer staples (XLP) lost less than 1%. Utilities (XLU) gained more than 1%. Real estate (XLRE) was flat on the day +0.00%.

The Dow Jones index fell sharply, losing 617 points (-2.38%) to close at 25,324. The Nasdaq gave back 269 points (-3.41%) to settle at 7,647.

China Retaliation Lead Market Selloff

Stocks were in selloff mode on Monday as China retaliated with higher trade tariffs against the US after the US increased them on China on Friday. China will increase tariffs on $60 billion worth of US imports targeted at agricultural products. When reading the above CNBC article, I came across the following quote regarding current market sentiment, “Volatility is going to persist. People don’t know what to make of it,” said JJ Kinahan, chief market strategist at TD Ameritrade. But “this is more of a re-evaluation of stocks than it is a pure panic. Bonds have rallied over the last couple of weeks, but if this was a panic you’d see people coming a lot more for bonds.”

Key Takeaways…

I took the following CNBC screenshots today regarding tariff troubles, still looking pricey and risk to the downside:

China Retaliation Lead Market Selloff

China Retaliation Lead Market Selloff

China Retaliation Lead Market Selloff

Notable S&P 500 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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5/13/19

S&P 500 Sector Graph

China Retaliation Lead Market Selloff

S&P 500 (SPY)

China Retaliation Lead Market Selloff

Communication Services (XLC)

China Retaliation Lead Market Selloff

Consumer Discretionary (XLY)

China Retaliation Lead Market Selloff

Consumer Staples (XLP)

China Retaliation Lead Market Selloff

Energy (XLE)

China Retaliation Lead Market Selloff

Financials (XLF)

China Retaliation Lead Market Selloff

Real Estate (XLRE)

China Retaliation Lead Market Selloff

Healthcare (XLV)

China Retaliation Lead Market Selloff

Industrials (XLI)

China Retaliation Lead Market Selloff

Materials (XLB)

China Retaliation Lead Market Selloff

Technology (XLK)

China Retaliation Lead Market Selloff

Utilities (XLU)China Retaliation Lead Market Selloff

S&P 500 Sector Heat Map

China Retaliation Lead Market Selloff

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