What a week.
Second straight week of red for S&P 500. Losses for four out of five sessions in the past week. A weekly loss of 4.65% this week has now put S&P 500 in a position where it is 23.3% off the ATH.
All 11 sectors within the S&P 500 closed in the red for the week with the energy sector leading the losses. If you are interested to see how these 11 sectors fare against the index YTD, here is the chart.
(Source: https://seekingalpha.com/news/3885834-sp-500-posts-over-4-weekly-loss-after-fed-rate-hike-oil-stocks-top-losers?source=content_type%3Areact%7Csection_asset%3Amore-on%7Csection%3Aright_rail%7Cfirst_level_url%3Aarticle%7Cline%3A1%7Cpos%3Aundefined)
XLE- Energy, XLY- Consumer Discretionary, XLRE- Real Estate, XLB- Materials, XLF- Financials. XLC- Communication Services, XLI- Industrials, XLK- Information Technology, XLV- Health Care, XLU- Utilities. XLP- Consumer Staples.
YTD wise, XLE (Energy), XLU (Utilities), XLP (Consumer Staples), XLV (Health Care), XLI (Industrials), XLF (Financials) have outperformed the index.
The recent drop happened in the wake of the Fed raising the key lending rate by 75bps to 3-3.25%....