MarketWatch reports that Delta Air Lines and United Airlines Holdings led the fall in quotations among the components of the US stock index S&P 500 in March.
Airline stocks fell by 27.5% and 26.4%, respectively. At the same time, MarketWatch reminds us that the value of Delta Air’s shares reached a historic high in early February and United Airlines’ in mid-January this year.
In addition, the price of shares of Teradyne Inc. decreased significantly – by 24.8%, Caesars Entertainment — by 24.7%, DexCom Inc. by 22.7%, Lululemon Athletica by 22.6%, Hewlett Packard Enterprise by 22.1%, and Nike Inc. by 20.1%.
Deckers Outdoor, Constellation Energy Corp., Williams-Sonoma Inc., Ralph Lauren Corp., Carnival Corp., Best Buy Co., and EPAM Systems Inc. fell by 18-20%.
In March, the S&P 500 index decreased by 5.8%. Among the index components, 69% of companies ended the month in the red, with 98 stocks falling by 10% or more, according to FactSet.
Among the S&P 500 sectoral sub-indices, nine out of eleven recorded a decline, including the consumer and information technology sectors, which fell significantly — by 9% and 8.9%, respectively. At the same time, the energy sector grew by 3.7%.
CVS Health Corp. (owner of the pharmacy chain and insurer Aetna) recorded the most significant rise in its stock price in the first quarter, up 51%. Other growth leaders included Philip Morris International — up 32%; Newmont Corp., up 30%; AT&T Inc., up 24%; and Consolidated Edison, up 24%.
Deckers Outdoor (which owns several footwear brands, including the famous sheepskin uggs) showed the most significant decline since the beginning of this year — 45%.
In addition, shares of Tesla fell significantly — 36%, ON Semiconductor Corp. by 35.5%, Teradyne by 34%, and Moderna Inc. by 32%.