Another Bloodbath: Sector By Sector Carnage - No Hiding Places

By Mish Shedlock of Mish Talk
Thursday, February 8, 2018 5:57 PM EDT

Financials(Click on image to enlarge)

The Dow dropped over 1,000 points again today. Carnage is everywhere. Every S&P 500 sector is in a correction.

Materials

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Utilities 

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Technology 

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Industrials 

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Health Care 

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Real Estate 

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Financials 

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S&P 500 All Sectors 

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No Hiding Places

A correction, defined as a 10% decline from the top, is underway in every sector of the S&P 500. The Industrial sector went into correction three days ago and is just under the 10% threshold today.

Sector by Sector Analysis

  • S&P 500: Down 3.75% today, 10.2% from January high
  • XLB Materials: Down 3.51% today, 10.5% from January high
  • XLU Utilities: Down 1.12% today, 16.1% from November
  • XLK Technology: Down 4.14% today, 10.4% from January high
  • XLI Industrials: Down 3.86% today, 9.8% from January high
  • XLV Health Care: Down 3.47% today, 11.8% from January high
  • XLRE Real Estate: Down 3.13% today, 12.6% from November high
  • XLE Energy: Down 3.02% today, 14.9% from January high
  • XLF Financials: Down 4.40% today, 10.5% from January high

Everything is correlated. There are no sector hiding spots.

This is just a down payment on what's likely ahead.

Disclaimer: The content on Mish's Global Economic Trend Analysis site is provided as general information only and should not be taken as investment advice. All site content, including ...

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Comments

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Moon Kil Woong • 6 years ago • Contributor's comment

As you can see, most of the correction is merely a correction from overly lofty prices from Nov to present. Real estate is down worse for a good reason. I've been warning people rel estate should get hit harder in any downturn, even a mild correction seems to be the case.

We will see if this worsens, but it seems like the worst is over if bond auctions stabilize and the dollar holds support. If not, we will have to look to see if we have another leg down.