There’s still another day left in the week, but unless things improve on Friday this will go down as one of the worst weeks for US equities in history. Since WWII, there have only been four other weeks where the S&P 500 was down more than 10% in a given week. On a related note, there are also only four stocks in the entire S&P 500 that are positive for the week! Leading the way higher, Regeneron (REGN) is up a healthy 7.1% while Gilead (GILD) is up just over 4%. Behind these two, the only other stocks that are higher now than they were at last Friday’s close are Clorox (CLX) and CME Group (CME).
On the downside, there are a lot more losers, but in the interest of space, below we have only listed the 17 stocks in the S&P 500 that are down over 20% this week alone. Looking through the names on the list, the cruise lines are well represented with Royal Caribbean (RCL), Norwegian Cruise Lines (NCLH), and Carnival (CCL). Besides these names, American Airlines (AAL) is down 26%, while Live Nation (LYV) is down 22.2%.
One thing we’ve heard a number of people argue the last few days is that some of the weakness this week is related to the increasing likelihood that Bernie Sanders wins the Democratic nomination. If that’s the case, why is not a single one of the worst-performing stocks from the Health Care sector, and why is the Health Care sector the third best performing sector this week and one of just four that is not down 10% so far this week? Start a two-week free trial to Bespoke Institutional for full access to our research and interactive tools.