The Utilities sector is the worst performing sector as of midday Wednesday, down 1.6%, with AES Corp and Edison International particularly lagging, down 3.7% and 3.1% respectively, and down 21.93% and 28.59% year-to-date. The Consumer Products sector is the next worst performer, down 1.0%, with Smith (A O) Corp and Deckers Outdoor Corp showing notable losses of 6.5% and 4.6%, respectively; overall, none of the S&P 500 sectors were up on the day, with nine sectors down.
The market experienced a broad downturn as of midday Wednesday, with all S&P 500 sectors registering losses, reflecting a strongly negative sentiment. The Utilities sector was the most significantly impacted, declining by 1.6%, with notable underperformers AES Corp (AES) and Edison International (EIX) falling 3.7% and 3.1% respectively on the day. This daily weakness exacerbates their substantial year-to-date declines of 21.93% for AES and 28.59% for EIX, which starkly contrasts with the Utilities Select Sector SPDR ETF (XLU) being up 7.06% year-to-date despite a 1.5% loss on the day; AES and EIX together represent about 2.3% of XLU's holdings. The Consumer Products sector was the second-worst performer, down 1.0%, with Smith (A O) Corp (AOS) losing 6.5% and Deckers Outdoor Corp (DECK) declining 4.6%. Deckers Outdoor Corp's year-to-date performance is particularly weak, down 48.82%, while Smith (A O) Corp is down 5.04% YTD. In contrast, the iShares U.S. Consumer Goods ETF (IYK) declined only 0.4% on the day and maintained an 8.66% gain year-to-date. The widespread nature of the downturn, with nine S&P 500 sectors in negative territory, indicates broad market pressure.
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strongly negative
Sentiment Score
-0.70
Ticker Sentiment
