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Financials
S&P 500 All Sectors
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.
Mike "Mish" Shedlock