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.
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.
Hand-in-hand with the inflation report was a record-low figure for the University of Michigan’s Consumer Sentiment Index.
Weak consumer sentiment points to the weakest stock sector
Here’s a summary of performance for the 11 sectors of the S&P 500 SPX and other broad indexes, as of 11:40 a.m. ET on June 10:
| Index | Price change – June 10 | Price change – 2022 | Decline from 52-week intraday high | Date of 52-week intraday high |
| Consumer Discretionary | -4.3% | -30% | -33% | 11/19/2021 |
| Information Technology | -3.7% | -25% | -26% | 12/27/2021 |
| Financials | -3.6% | -17% | -22% | 01/12/2022 |
| Materials | -3.1% | -10% | -10% | 12/31/2021 |
| Communication Services | -3.0% | -28% | -33% | 09/01/2021 |
| Industrials | -3.0% | -14% | -15% | 01/04/2022 |
| Energy | -2.4% | 57% | -5% | 06/08/2022 |
| Real Estate | -1.8% | -20% | -20% | 12/31/2021 |
| Health Care | -1.7% | -11% | -12% | 04/08/2022 |
| Utilities | -0.8% | -1% | -8% | 04/08/2022 |
| Consumer Staples | -0.4% | -7% | -12% | 04/20/2022 |
| S&P 500 | -2.9% | -18% | -19% | 01/04/2022 |
| Dow Jones Industrial Average | -2.5% | -13% | -15% | 01/05/2022 |
| Nasdaq Composite Index | -3.6% | -28% | -30% | 11/22/2021 |
| Nasdaq-100 Index | -3.6% | -28% | -29% | 11/22/2021 |
| Source: FactSet | ||||
All 11 sectors of the S&P 500 were down for the day.
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 has risen 59%, based on continuous forward-month prices compiled by FactSet.
Stocks down at least 60% from their 52-week highs
To take a broader look at large companies suffering the biggest share price declines, we added the components of the Nasdaq-100 Index NDX 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. )
Within that enlarged group, these 19 stocks have dropped at least 60% from their 52-week highs:
| Company | Ticker | Price change – June 10 | Price change – 2022 | Decline from 52-week high | Date of 52-week intraday high |
| DocuSign Inc. | DOCU | -24.6% | -56.8% | -79% | 08/10/2021 |
| Etsy Inc. | ETSY | -8.2% | -65.2% | -75% | 11/26/2021 |
| Moderna Inc. | MRNA | -5.9% | -50.4% | -75% | 08/10/2021 |
| PayPal Holdings Inc. | PYPL | -6.3% | -58.2% | -75% | 07/26/2021 |
| Netflix Inc. | NFLX | -4.7% | -69.5% | -74% | 11/17/2021 |
| Zoom Video Communications Inc. Class A | ZM | -2.5% | -41.5% | -74% | 07/07/2021 |
| Lucid Group Inc. | LCID | -4.2% | -52.5% | -69% | 11/17/2021 |
| Okta Inc. Class A | OKTA | -5.9% | -60.2% | -68% | 09/03/2021 |
| Align Technology Inc. | ALGN | -3.5% | -61.4% | -66% | 09/23/2021 |
| MercadoLibre Inc. | MELI | -7.4% | -48.6% | -65% | 09/02/2021 |
| Carnival Corp. | CCL | -5.4% | -44.9% | -65% | 06/09/2021 |
| Under Armour Inc. Class A | UAA | -4.1% | -52.4% | -63% | 11/19/2021 |
| Penn National Gaming Inc. | PENN | -5.4% | -38.1% | -63% | 09/08/2021 |
| Atlassian Corp. PLC Class A | TEAM | -7.1% | -52.3% | -62% | 10/29/2021 |
| Caesars Entertainment Inc. | CZR | -8.1% | -50.7% | -62% | 10/01/2021 |
| Illumina Inc. | ILMN | -9.6% | -46.6% | -61% | 08/16/2021 |
| Norwegian Cruise Line Holdings Ltd. | NCLH | -4.5% | -36.7% | -61% | 06/09/2021 |
| Zscaler Inc. | ZS | -5.6% | -52.9% | -60% | 11/19/2021 |
| Ceridian HCM Holding Inc. | CD | -4.6% | -49.7% | -60% | 11/03/2021 |
Click on the tickers for more about each company.
Then read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
The stock that was down the most from its 52-week high was DocuSign Inc. DOCU, also the worst performer on June 10 after the company lowered its billings outlook. Analysts then downgraded the stock.
Source: finance.yahoo.com