Data reveals tech stocks as the worst performer in bear market
December 21, 2018 | Investopaper
According to the data from Kensho, technology stocks have been the worst performing stocks in this bear market where S&P 500 slid by more than 10% over the six month period.
Although the technology sector has been the favorite during the historic bull period, data shows that the S&P tech sector lost 20.3% on average as S&P 500 skids by at least 20%.
Consumer staples were down by around 1.6% followed by the health care sector which lost 5.2% in the bear market. Similarly, utilities (-6%), energy(-8.6%), communication services (-12.1%), materials (-12.7%) were among the other losing sectors.
Those sectors which reported more fall than S&P 500 (-14.2% on average) were industrials (-14.7%), consumer discretionary (-15.3%), financials (-19.0%) and information technology (-20.3%).
