Monday s stock-market decline accelerated, and a closer look at the day s worst performers highlighted painful double-digit year-to-date drops.
The Dow Jones Industrial Average, DJIA, fell as much as 8.20 points or 2.4% late Monday morning, the benchmark S&P 500 Index SPX, dipped as much as 2.9%, the Nasdaq Composite Index COMP fell as much as 3.1% and the Nasdaq 100 Index NDX fell as much as 3.1%.
Analysts said investors weren't experiencing a market crash, but rather a pullback related to an expected period of rising interest rates as the Federal Reserve undergoes a policy pivot to fight high inflation.
Over the weekend, analysts at Jefferies said there were signs that the U.S. stock market was nearing a bottom, although they also said it might be a bit early to make that call.
Among the S&P 500, 91% of stocks were down for the trading session as of 11 a.m. Here are the 20 worst performers for the day as of that time:
There are some dramatic year-to-date declines on the table, including 42% for Moderna Inc. MRNA, which was down nearly 9% during late morning trading on January 24. You can see declines from 52 week intraday highs, and the dates that those highs were hit. Moderna once again leads the group, down nearly 71% from its high on Aug. 10.
Don't miss: This sector of the S&P 500 is expected to show the fastest sales and dividend growth in 2022 and 2023.