The latest inflation figures on June 10 were worse than expected and the effect on stock prices was brutal. A list of stocks in the S&P 500 and the Nasdaq-100 Index that have fallen at least 60% from 52-week highs is below.<\/p>\n
The consumer-price index report for May from the Bureau of Labor Statistics came in much worse than expected, with a 1% increase in prices during the month and a year-over-year CPI increase of 8.6% a new 40-year record.<\/p>\n
Hand-in-hand with the inflation report was a record-low figure for the University of Michigans Consumer Sentiment Index.<\/p>\n
Heres a summary of performance for the 11 sectors of the S&P 500 SPX, -2.91% and other broad indexes, as of 11:40 a.m. ET on June 10: <\/p>\n
All 11 sectors of the S&P 500 were down for the day.<\/p>\n
The only sector with a positive return in 2022 has been energy, with a 57% gain as the price of West Texas Crude Oil CL.1, -0.84% has risen 59%, based on continuous forward-month prices compiled by FactSet.<\/p>\n
To take a broader look at large companies suffering the biggest share price declines, we added the components of the Nasdaq-100 Index NDX, -3.56% to the S&P 500 for a list of 519 companies after removing duplicates. (The Nasdaq-100 includes the largest 100 nonfinancial companies, by market capitalization, in the full Nasdaq Composite Index COMP, -3.52%. )<\/p>\n
Within that enlarged group, these 19 stocks have dropped at least 60% from their 52-week highs:<\/p>\n
Click on the tickers for more about each company.<\/p>\n
Then readTomi Kilgores detailed guide to the wealth of information for free on the MarketWatch quote page.<\/p>\n
The stock that was down the most from its 52-week high was DocuSign Inc. DOCU, -24.53%, also the worst performer on June 10 after the company lowered its billings outlook. Analysts then downgraded the stock.<\/p>\n
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These 19 big tech stocks have now dropped at least 60% from their 52-week highs - MarketWatch<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The latest inflation figures on June 10 were worse than expected and the effect on stock prices was brutal. Continue reading