Deep Dive: The S&P 500 sank 5% in a very bad week for stocks. These 20 lost up to 24%

by | Sep 16, 2022 | Stock Market

U.S. stocks sputtered Friday to close out the week in the red. The day’s declines of less than 1% for the broad indexes paled against Tuesday’s, when they sank 4% to 5%. For the week, the Dow Jones Industrial Average
DJIA,
-0.45%
was down 1,329 points (or 4.1%), closing Friday at 30,822. The benchmark S&P 500
SPX,
-0.72%
pulled back 4.8% for the week, while the Nasdaq Composite Index
COMP,
-0.90%
gave up 5.5%.

Investors have been jittery, reacting to any sign of continuing consumer price increases or economic strength heading into the Federal Open Market Committee’s meeting on Sept. 20-21. The FOMC will make a policy announcement on Wednesday, Sept. 21, followed by Federal Reserve Chairman Jerome Powell’s press conference. See MarketWatch’s Weekend Reads for a preview of what to expect from the Federal Reserve. Read: The next financial crisis may already be brewing — but not where investors might expect Among the S&P 500, 95% of stocks ended the week with declines. On Friday, the highest-profile loser was FedEx Corp., whose shares FDX dropped 21% for the session after the company issued a profit warning, citing weakening business conditions. Reaction to FedEx: The week’s worst decliners among the S&P 500 Here’s how the 11 sectors of the S&P 500 fared for the week, sorted by how much they declined:
Index

Price change – 1 week

Price change – 2022

Materials

-6.7%

-19.8%

Real Estate

-6.5%

-22.6%

Communication Services

-6.4%

-34.2%

Industrials

-6.4%

-16.0%

Information Technology

-6.1%

-26.3%

Consumer Discretionary

-4.2%

-23.2%

Utilities

-3.8%

3.4%

Financials

-3.8%

-15.8%

Consumer Staples

-3.6%

-8.0%

Energy

-2.6%

41.1%

Health Care

-2.4%

-9.9%

S&P 500

-4.8%

-18.7%

Source: FactSet

Here are the 20 companies in the S&P 500 whose stocks showed the largest declines for the week:
Company

Ticker

Price change – one week through Sept. 16

Price change – Sept. 16

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Adobe Inc.

ADBE,
-3.12%

-24.1%

-3.1%

-47.2%

-57.2%

11/22/2021

FedEx Corp.

FDX,

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