The S&P 500 is down 1.33% after two days of trading in 2016.  You may not remember, but in 2015, the index was down 1.87% after two trading days, and it was down 2.8% after three trading days.

Last year, Energy and Utilities were two of the worst performing sectors.  As shown below, they’re currently two of the three sectors that are in the green so far this year.

So what has led the market lower over the first two trading days of 2016?  Technology and Consumer Discretionary are both down just under 2%, while Financials and Materials are down roughly 1.7%.

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