solely 5 S&P 500 shares ended greater after Powell’s sobering Jackson hole speech

It took solely a ten-minute speech from Federal Reserve Chairman Jerome Powell on Friday to clarify that monetary coverage can be relentlessly tightened inside the months forward. retailers dumped shares, sending the S&P 500 Index down three.4% following two days of positive factors.

solely 5 shares inside the S&P 500
SPX,
-three.37%

had been up on Friday:

agency

Ticker

value change – Aug. 26

value change – 2022

Decline from fifty two-week intraday extreme

Date of fifty two-week intraday extreme

digital Arts Inc.

EA,
+three.fifty seven%
three.fifty seven%

zero.2%

-10.6%

09/02/2021

Molina Healthcare Inc.

MOH,
+three.36%
three.36%

6.4%

-6.three%

08/26/2022

Take-Two Interactive computer software Inc.

TTWO,
+1.fifty nine%
1.fifty nine%

-28.three%

-34.9%

eleven/05/2021

CF Industries Holdings Inc.

CF,
+zero.eighty one%
zero.eighty one%

sixty seven.2%

-1.zero%

08/26/2022

ConocoPhillips

COP,
+zero.04%
zero.04%

fifty five.three%

-9.6%

06/08/2022

supply: FactSet

In his speech on the Jackson hole financial symposium Friday morning, Powell said the Federal Reserve’s actions to handle inflation would deliver “some ache to households and companies.”

He additionally addressed hypothesis that indications of a softening of value will enhance in July might set off the Fed to sluggish its tempo for curiosity-price will enhance by saying he nonetheless noticed “sturdy underlying momentum” inside the U.S. economic system.

study: The Fed isn’t pivoting. Why had been inventory retailers the final to know?

The Dow Jones Industrial common
DJIA,
-three.03%

fell three% to close at 32,283. The Nasdaq Composite Index
COMP,
-three.ninety 4%

slumped three.9% to 12,142.

amongst the numerous S&P 500, forty three% of shares had been down at the very least 4% on Friday. listed right here are the day’s 10 worst performers, which lopped off a mixed $sixty three.eight billion in market capitalization for the session:

agency

Ticker

value change – Aug. 26

Change  in market cap – Aug. 26 ($mil)

value change – 2022

Decline from fifty two-week intraday extreme

Date of fifty two-week intraday extreme

3M Co.

MMM,
-9.fifty 4%
-9.5%

-$7,758

-27.three%

-34.5%

08/30/2021

Nvidia Corp.

NVDA,
-9.23%
-9.2%

-$forty one,325

-forty 4.7%

-fifty three.1%

eleven/22/2021

HP Inc.

HPQ,
-eight.ninety 4%
-eight.9%

-$three,185

-sixteen.7%

-24.three%

04/07/2022

Align know-how Inc.

ALGN,
-7.fifty two%
-7.5%

-$1,604

-sixty one.6%

-sixty five.eight%

09/23/2021

Monolithic vitality packages Inc.

-7.three%

-$1,769

-three.4%

-17.eight%

eleven/22/2021

Hewlett Packard Enterprise Co.

HPE,
-7.22%
-7.2%

-$1,390

-12.7%

-22.5%

02/10/2022

greenback Tree Inc.

DLTR,
-6.ninety two%
-6.9%

-$2,315

-1.three%

-21.7%

04/21/2022

ON Semiconductor Corp.

ON,
-6.sixty nine%
-6.7%

-$2,223

5.4%

-6.eight%

08/25/2022

Zebra utilized sciences Corp. Class A

ZBRA,
-6.sixty six%
-6.7%

-$1,138

-forty eight.2%

-forty nine.9%

12/10/2021

V.F. Corp.

VFC,
-6.fifty six%
-6.6%

-$1,123

-forty three.eight%

-forty seven.eight%

eleven/sixteen/2021

supply: FactSet

click on on the tickers for extra about every agency, collectively with information that drove prices decrease on Friday. Then study Tomi Kilgore’s detailed information to the wealth of information accessible completely free on MarketWatch quote pages.

Don’t miss: These dividend shares can defend you as a end result of the Federal Reserve slows the economic system

Hear from Ray Dalio at MarketWatch’s most interesting New ideas in money rivals on Sept. 21 and 22 in ny. The hedge-fund pioneer has sturdy views on the place the economic system is headed.

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