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

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A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August.

Fear of the Federal Reserve’s ongoing tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average DJIA, -3.94% down 1,276 points (or 3.9%) to 31,104, with all 30 components showing declines as selling activity increased late in the trading session. It was the largest drop since June 2020.

The benchmark S&P 500 SPX, -4.32% fell 4.3%, with all but six component stocks down for the day. The Nasdaq Composite Index COMP, -5.16% fared even worse with a 5.2% decline, reflecting selling of tech-oriented stocks.

Altogether, it was the worst one-day decline for the three indexes since June 11, 2020.

The Nasdaq-100 index NDX, -5.54% fell 5.5% with every single component stock ending in the red.

Read: U.S. inflation roars back in August, CPI shows, despite falling gas prices

Nvidia Corp. NVDA, -9.47% and Meta Platforms Inc. META, -9.37% led the plunge for the largest tech-oriented companies in the S&P 500, each sliding 9.4%, followed by Advanced Micro Devices Inc. AMD, -8.99%, which dropped 8.8%.

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

Company Ticker Market cap – close on Sept. 13 ($mil) Change  in market cap – Sept. 13 ($mil) Change in market cap – 2022 ($mil) Price change – Sept. 13 Price change – 2022
Apple Inc. AAPL, -5.87% $2,472,164 -$154,279 -$441,120 -5.9% -13.4%
Microsoft Corp. MSFT, -5.50% $1,881,179 -$107,468 -$643,905 -5.4% -25.0%
Amazon.com Inc. AMZN, -7.06% $1,291,171 -$98,921 -$399,832 -7.1% -24.0%
Alphabet Inc. Class A GOOGL, -5.90% $1,268,670 -$79,277 -$647,237 -5.9% -28.0%
Tesla Inc. TSLA, -4.04% $916,603 -$37,288 -$144,684 -3.9% -17.0%
Totals $7,829,786 -$477,234 -$2,276,778
Source: FactSet
Worst decliners in the S&P 500

Among the six stocks in the S&P 500 that didn’t decline on Sept. 13, the standout performer was Twitter Inc. TWTR, +0.80%, which rose 0.8% after the company’s shareholders approved Tesla CEO Elon Musk’s disputed takeover offer. Twitter’s stock is now down 39% from its 52-week intraday high on Oct. 20, 2021.

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

Company Ticker Price change – Sept. 13 Price change – 2022 Decline from 52-week intraday high Date of 52-week intraday high
Eastman Chemical Co. EMN, -11.34% -11.1% -30.2% -34.8% 01/19/2022
Nvidia Corp. NVDA, -9.47% -9.4% -55.3% -62.1% 11/22/2021
Meta Platforms Inc. Class A META, -9.37% -9.4% -54.5% -60.1% 09/10/2021
Lumen Technologies Inc. LUMN, -9.14% -9.1% -27.1% -36.8% 11/05/2021
Western Digital Corp. WDC, -9.13% -9.1% -39.7% -43.3% 01/05/2022
Advanced Micro Devices Inc. AMD, -8.99% -8.8% -46.4% -53.1% 11/30/2021
Caesars Entertainment Inc. CZR, -8.62% -8.7% -51.3% -62.0% 10/01/2021
Whirlpool Corp. WHR, -8.35% -8.5% -37.6% -40.4% 01/05/2022
Generac Holdings Inc. GNRC, -8.40% -8.2% -39.3% -59.3% 11/02/2021
NXP Semiconductors NV NXPI, -8.05% -8.2% -31.8% -35.3% 12/07/2021
Capital One Financial Corp. COF, -7.97% -8.0% -30.4% -42.2% 10/21/2021
Synchrony Financial SYF, -7.87% -7.9% -31.9% -39.8% 10/19/2021
Lennar Corp. Class A LEN, -7.91% -7.9% -36.1% -36.8% 12/13/2021
Align Technology Inc. ALGN, -7.74% -7.8% -62.4% -66.5% 09/23/2021
Netflix Inc. NFLX, -7.78% -7.8% -63.8% -68.9% 11/17/2021
Qorvo Inc. QRVO, -7.70% -7.8% -44.9% -53.1% 09/14/2021
Franklin Resources Inc. BEN, -7.89% -7.6% -26.2% -35.4% 11/02/2021
Micron Technology Inc. MU, -7.46% -7.4% -42.4% -45.5% 01/05/2022
BlackRock Inc. BLK, -7.45% -7.3% -29.5% -33.7% 11/12/2021
Paramount Global Class B PARA, -7.13% -7.3% -25.5% -45.4% 09/28/2021
Source: FactSet

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

Don’t miss: 12 semiconductor stocks bucking the downcycle trend

And for income: Preferred stocks can offer hidden opportunities for dividend investors. Just look at this JPMorgan Chase example.

Hear from Ray Dalio at MarketWatch’s Best New Ideas in Money Festival on Sept. 21 and 22 in New York. The hedge-fund pioneer has strong views on where the economy is headed.

This article was originally published by Marketwatch.com. Read the original article here.

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