These five stocks in the S&P 500 lost almost half a trillion dollars in value in one day amid widespread wipeout

A drop in gasoline prices couldn’t mask the problem that spooked investors on September 13: core consumer prices resumed their rapid rise in August.

Fear of the Federal Reserve’s continued monetary policy tightening to fight inflation sent the Dow Jones Industrial Average DJIA
down 1,276 points (or 3.9%) to 31,104, with all 30 components posting declines as selling activity increased at the end of the trading session. This is the largest drop since June 2020.

The benchmark S&P 500 SPX index
fell 4.3%, with all but six component stocks down for the day. The Nasdaq COMP Composite Index
fared even worse with a 5.2% decline, reflecting the sell-off in tech-focused stocks.

In total, this is the worst one-day drop for all three indices since June 11, 2020.

The Nasdaq-100 NDX Index
fell 5.5%, with every component stock ending in the red.

Lily: US inflation rebounds in August, CPI shows, despite falling gasoline prices

Nvidia Corp. NVDA
and Meta Platforms Inc. META
led the plunge of the largest technology-focused companies in the S&P 500, each slipping 9.4%, followed by Advanced Micro Devices Inc. AMD,
which fell 8.8%.

The five largest S&P 500 companies by market capitalization lost $477 billion in value, as you can see here:

Company

Teleprinter

Market cap – closes September 13 ($millions)

Market cap change – September 13 ($millions)

Change in market capitalization – 2022 ($millions)

Price Change – September 13

Price change – 2022

Apple Inc.

AAPL

$2,472,164

-$154,279

-$441,120

-5.9%

-13.4%

Microsoft Corp.

MSFT

$1,881,179

-$107,468

-$643,905

-5.4%

-25.0%

Amazon.com Inc.

AMZN

$1,291,171

-$98,921

-$399,832

-7.1%

-24.0%

Alphabet Inc. Class A

GOOGL

$1,268,670

-$79,277

-$647,237

-5.9%

-28.0%

Tesla Inc.

TSLA

$916,603

-$37,288

-$144,684

-3.9%

-17.0%

Totals

$7,829,786

-$477,234

-$2,276,778

Source: FactSet

The S&P 500’s Worst Declines

Of the six S&P 500 stocks that did not decline on September 13, the best performer was Twitter Inc. TWTR,
which rose 0.8% after the company’s shareholders approved Tesla CEO Elon Musk’s contested takeover bid. Twitter’s stock is now down 39% from its 52-week intraday high on October 20, 2021.

Here are the 20 worst performers in the large-cap benchmark for the day:

Company

Teleprinter

Price Change – September 13

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Eastman Chemical Co.

REM

-11.1%

-30.2%

-34.8%

01/19/2022

Nvidia Corp.

NVDA

-9.4%

-55.3%

-62.1%

22/11/2021

Meta Platforms Inc. Class A

META

-9.4%

-54.5%

-60.1%

09/10/2021

Lumen Technologies Inc.

LUMN

-9.1%

-27.1%

-36.8%

05/11/2021

Western Digital Corp.

WDC

-9.1%

-39.7%

-43.3%

05/01/2022

Advanced Micro Devices Inc.

AMD

-8.8%

-46.4%

-53.1%

30/11/2021

Caesars Entertainment Inc.

CZR

-8.7%

-51.3%

-62.0%

01/10/2021

Whirlpool Corp.

WHR

-8.5%

-37.6%

-40.4%

05/01/2022

Generac Management Inc.

GNRC

-8.2%

-39.3%

-59.3%

02/11/2021

NXP Semiconductors AG

NXPI

-8.2%

-31.8%

-35.3%

07/12/2021

Capital One Financial Corp.

COF

-8.0%

-30.4%

-42.2%

21/10/2021

Synchrony Financial

SYF

-7.9%

-31.9%

-39.8%

10/19/2021

Lennar Corp. Class A

LEN

-7.9%

-36.1%

-36.8%

13/12/2021

Align Technology Inc.

ALGN

-7.8%

-62.4%

-66.5%

09/23/2021

Netflix Inc.

NFLX

-7.8%

-63.8%

-68.9%

17/11/2021

Qorvo Inc.

QRVO

-7.8%

-44.9%

-53.1%

09/14/2021

Franklin Resources Inc.

Well

-7.6%

-26.2%

-35.4%

02/11/2021

Micron Technology Inc.

MU

-7.4%

-42.4%

-45.5%

05/01/2022

BlackRock Inc.

noir

-7.3%

-29.5%

-33.7%

11/12/2021

Paramount Global Category B

PARA

-7.3%

-25.5%

-45.4%

09/28/2021

Source: FactSet

Click on the tickers to learn more about each company. Click on here for Tomi Kilgore’s in-depth guide to the wealth of information available for free on MarketWatch’s quote pages.

Don’t miss: 12 Semiconductor Stocks Bucking the Downtrend

And for income: Preferred stocks can provide hidden opportunities for dividend investors. Look at this example from JPMorgan Chase.

Listen to Ray Dalio at MarketWatch’s Best New Ideas in Money Festival September 21 and 22 in New York. The hedge fund pioneer has a strong opinion on the direction the economy is taking.

Leave a Comment

Your email address will not be published.