These five S&P 500 stocks lost nearly half a trillion dollars in value in one day amid widespread extinction

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Sep 13, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
These five S&P 500 stocks lost nearly half a trillion dollars in value in one day amid widespread extinction

The drop in gasoline prices could not hide the problem that spooked investors on September 13: core consumer prices resumed their rapid rise in August.

Fears of the Federal Reserve’s continued tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average down
DJIA,
-3.94%

down 1,276 points (or 3.9%) to 31,104, with all 30 components showing declines as selling activity picked up late in the trading session. It was the biggest drop since June 2020.

The benchmark S&P 500
SPX,
-4.32%

fell 4.3%, with all but six component stocks down on the day. The Nasdaq Composite Index
comp,
-5.16%

fared even worse, down 5.2%, reflecting a sell-off in technology-oriented stocks.

Overall, 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 ending in the red.

Read: US inflation rose again in August, the CPI showed, despite falling gas prices

Nvidia Corp.
NVDA,
-9.47%

and Meta Platforms Inc.
META,
-9.37%

led the decline for the largest technology-oriented companies in the S&P 500, each down 9.4%, followed by Advanced Micro Devices Inc .
AMD,
-8.99%
,
which fell by 8.8%.

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

Company

Ticker

Market Cap – September 13 Close ($mil)

Change in Market Cap – Sep 13 ($mil)

Change in market cap – 2022 ($mil)

Price change – September 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

GOOGLE,
-5.90%

$1,268,670

-$79,277

-$647,237

-5.9%

-28.0%

Tesla Inc.

TSLA,
-4.04%

916,603 dollars

-$37,288

-$144,684

-3.9%

-17.0%

Total

$7,829,786

-$477,234

-$2,276,778

Source: FactSet

The worst declines in the S&P 500

Among the six stocks in the S&P 500 that did not decline on Sept. 13, Twitter Inc. was the standout.
TWTR,
+0.80%
,
which rose 0.8% after the company’s shareholders approved Tesla CEO Elon Musk’s controversial takeover bid. Twitter shares are already down 39% from their 52-week intraday high on October 20, 2021.

Here are the 20 worst performers in the major market benchmark for the day:

Company

Ticker

Price change – September 13

Price change – 2022

Down from 52-week intraday high

Date of intraday 52-week high

Eastman Chemical Co.

EMN,
-11.34%

-11.1%

-30.2%

-34.8%

19.01.2022

Nvidia Corp.

NVDA,
-9.47%

-9.4%

-55.3%

-62.1%

22.11.2021

Meta Platforms Inc. Class A

META,
-9.37%

-9.4%

-54.5%

-60.1%

10.09.2021

Lumen Technologies Inc.

LUMN,
-9.14%

-9.1%

-27.1%

-36.8%

05.11.2021

Western Digital Corp.

WDC,
-9.13%

-9.1%

-39.7%

-43.3%

05/01/2022

Advanced Micro Devices Inc.

AMD,
-8.99%

-8.8%

-46.4%

-53.1%

30.11.2021

Caesars Entertainment Inc.

CZR,
-8.62%

-8.7%

-51.3%

-62.0%

01.10.2021

Whirlpool Corp.

WHR,
-8.35%

-8.5%

-37.6%

-40.4%

05/01/2022

Generac Holdings Inc.

GNRC,
-8.40%

-8.2%

-39.3%

-59.3%

02.11.2021

NXP Semiconductors NV

NXPI,
-8.05%

-8.2%

-31.8%

-35.3%

07.12.2021

Capital One Financial Corp.

COF,
-7.97%

-8.0%

-30.4%

-42.2%

21.10.2021

Synchrony Financial

SYF,
-7.87%

-7.9%

-31.9%

-39.8%

19.10.2021

Lennar Corp. Class A

LEN,
-7.91%

-7.9%

-36.1%

-36.8%

13/12/2021

Align Technology Inc.

ALGN,
-7.74%

-7.8%

-62.4%

-66.5%

23/09/2021

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%

14/09/2021

Franklin Resources Inc.

BEN,
-7.89%

-7.6%

-26.2%

-35.4%

02.11.2021

Micron Technology Inc.

MU,
-7.46%

-7.4%

-42.4%

-45.5%

05/01/2022

BlackRock Inc.

BLACK,
-7.45%

-7.3%

-29.5%

-33.7%

11/12/2021

Paramount Global Class B

PARA,
-7.13%

-7.3%

-25.5%

-45.4%

28/09/2021

Source: FactSet

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

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