The S&P 500 fell 5% in a very bad week for stocks.  Those 20 lost up to 24%.

The S&P 500 fell 5% in a very bad week for stocks. Those 20 lost up to 24%.

US stocks spat on Friday to end the week in the red. The day’s declines of less than 1% for the broad indices paled in comparison to Tuesday’s, when they fell 4% to 5%.

For the week, the Dow Jones Industrial Average DJIA
was down 1,329 points (or 4.1%), closing Friday at 30,822. The benchmark S&P 500 SPX
fell 4.8% for the week, while the Nasdaq Composite Index COMP
lost 5.5%.

Investors were nervous, reacting to any signs of continued consumer price increases or economic strength ahead of the Federal Open Market Committee meeting on September 20-21. The FOMC will make a policy announcement on Wednesday, September 21, followed by Federal Reserve Chairman Jerome Powell’s press conference.

See MarketWatch’s weekend readings for an overview of what to expect from the Federal Reserve.

Lily: The next financial crisis may already be brewing, but not where investors might expect it

Among the S&P 500, 95% of stocks ended the week down. The most visible loser on Friday was FedEx Corp., whose FDX shares fell 21% for the session after the company issued a profit warning, citing weakening trading conditions.

Response to FedEx:

The worst declines of the week among the S&P 500

Here’s how the 11 sectors of the S&P 500 fared for the week, sorted by decline:

Index

Price change – 1 week

Price change – 2022

Materials

-6.7%

-19.8%

Immovable

-6.5%

-22.6%

Communication Services

-6.4%

-34.2%

Industrial

-6.4%

-16.0%

Computer science

-6.1%

-26.3%

Consumer Discretionary

-4.2%

-23.2%

Utilities

-3.8%

3.4%

finance

-3.8%

-15.8%

Basic consumption

-3.6%

-8.0%

Energy

-2.6%

41.1%

Health care

-2.4%

-9.9%

S&P500

-4.8%

-18.7%

Source: FactSet

Here are the 20 S&P 500 companies whose stocks posted the biggest declines of the week:

Company

Teleprinter

Price change – one week until September 16

Price Change – September 16

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Adobe Inc.

ADBE

-24.1%

-3.1%

-47.2%

-57.2%

22/11/2021

FedEx Corp.

FDX

-23.0%

-21.4%

-37.7%

-39.6%

05/01/2022

Nucor Corp.

NUDE

-18.4%

-0.2%

2.6%

-37.7%

04/21/2022

West Rock Co.

CMR

-16.3%

-11.5%

-23.0%

-37.7%

05/05/2022

Generac Management Inc.

GNRC

-15.9%

-4.1%

-43.2%

-61.8%

02/11/2021

International Paper Co.

IPs

-15.6%

-11.2%

-25.0%

-37.7%

10/13/2021

Eastman Chemical Co.

REM

-15.5%

-2.7%

-34.6%

-38.9%

01/19/2022

Packaging Corp. from america

PKG

-15.4%

-11.0%

-13.3%

-29.9%

04/21/2022

Western Digital Corp.

WDC

-15.0%

-1.5%

-42.9%

-46.3%

05/01/2022

West Pharmaceutical Services Inc.

WST

-14.5%

-2.1%

-42.8%

-43.6%

27/12/2021

SVB Financial Group

SIVB

-14.3%

-4.4%

-46.6%

-52.5%

16/11/2021

Meta Platforms Inc. Class A

META

-13.5%

-2.2%

-56.5%

-61.3%

09/15/2021

Prologis inc.

PLD

-12.3%

-2.2%

-32.5%

-34.9%

04/21/2022

Mohawk Industries Inc.

MHK

-12.2%

-1.3%

-45.2%

-49.9%

28/10/2021

Sealed Air Corp.

SEE

-12.0%

-4.2%

-27.9%

-31.2%

03/29/2022

Duke Realty Corp.

DRE

-12.0%

-2.1%

-17.9%

-18.6%

31/12/2021

Bio-Rad Laboratories Inc. Class A

organic

-11.9%

-5.1%

-40.6%

-44.4%

09/15/2021

Lumen Technologies Inc.

LUMN

-11.7%

-1.8%

-29.9%

-39.3%

05/11/2021

T. Rowe Prize Group

TRUE

-11.5%

-1.7%

-44.0%

-50.7%

05/11/2021

Bio-Techne Corp.

TECHNOLOGY

-11.3%

-2.8%

-40.5%

-43.4%

09/23/2021

Source: FactSet

Adobe Inc. suffered the worst one-week decline in 20 years for its share price, with analysts questioning the timing and price of its dilutive deal to acquire Figma.

Here is an interesting insight into the extent to which Meta Platforms Inc. META
fell this year, incorporating the bleak outlook for the business.

Don’t miss: These 20 stocks have a short interest of 19% or more, and AMC and GameStop aren’t even in the top half

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

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