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Deep Dive: These 16 stocks in the S&P 500 fell at least 25% on Monday as the coronavirus panic intensified

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U.S. stocks suffered their worst session of the coronavirus crisis Monday, with scores of companies posting double-digit percentage declines.

The Dow Jones Industrial Average DJIA, -12.93%  fell 2,997 points, or 12.9%, to close at 20,188.52. It was the Dow’s third consecutive session ending with an increase or decrease of 9% or more — the longest such streak since October 1929.

The Federal Open Market Committee on Sunday cut the federal funds target rate by 1% to a range of zero to 0.25%, jumping ahead of its regularly scheduled meeting that was set to begin Tuesday but was canceled.

The S&P 500 Index SPX, -11.98%  tumbled 12%, with 491 stocks showing declines. Here’s a breakdown of the day’s 356 double-digit declines among components of the benchmark index:

Decline range on March 16 Number of S&P 500 stocks
10% or more 356
15% or more 189
20% or more 64
25% or more 16
30% or more 3
Source: FactSet

For the Dow and the S&P 500, Monday marked the third-worst trading session ever. The Nasdaq Composite Index COMP, -12.32%  ended the day with a loss of 12.3%, its worst-ever one-day decline.

President Trump said Americans should avoid gathering in groups of 10 or more and keep their children at home. That came after schools across the country were closed, all major sports leagues were suspended, and local governments took many other actions to keep crowds from forming.

Goldman Sachs predicted the U.S. economy would shrink during the second quarter and that their forecasts indicated a recession (two quarters of GDP decline) was likely.

Worst of the S&P 500

Shares of energy companies, airlines, cruise lines, and casino and hotel operators have been among the largest decliners during most of the down days since the S&P 500 hit its last closing high Feb. 19. But on Monday, several consumer-discretionary companies, including apparel retailers, were hit very hard.

The following table shows the 16 components of the benchmark index that were down 25% or more Monday. You can scroll the table to see how much these stocks have declined since Feb. 19, how much they are down from their 52-week highs, how much they are down during 2020 and how they performed during 2019. All figures exclude dividends:

Company Ticker Industry Price change – March 16, 2020 Price decline since Feb. 19 Decline from 52-week high Price decline – 2020 Price change – 2019
MGM Resorts International MGM, -33.61% Casinos/Gaming -33.6% -68.1% -70.4% -69.2% 37.1%
Apache Corp. APA, -32.34% Oil & Gas Production -32.4% -80.8% -85.7% -78.7% -2.5%
Capri Holdings Ltd CPRI, -30.65% Apparel/Footwear Retail -30.7% -65.1% -80.7% -74.7% 0.6%
Tapestry Inc. TPR, -29.27% Apparel/Footwear Retail -29.3% -59.1% -68.2% -57.4% -20.1%
Ventas Inc. VTR, -28.59% Real Estate Investment Trusts -28.6% -59.8% -68.4% -58.8% -1.5%
DXC Technology Co. DXC, -28.34% Data Processing Services -28.3% -63.6% -83.8% -71.1% -29.3%
L Brands Inc. LB, -27.73% Apparel/Footwear Retail -27.7% -52.6% -59.9% -35.7% -29.4%
Noble Energy Inc. NBL, -27.26% Oil & Gas Production -27.3% -72.4% -81.6% -78.9% 32.4%
Alliance Data Systems Corp. ADS, -27.07% Data Processing Services -27.1% -64.4% -80.3% -67.8% -25.2%
Discover Financial Services DFS, -26.84% Regional Banks -26.8% -49.9% -59.3% -55.4% 43.8%
Simon Property Group Inc. SPG, -26.71% Real Estate Investment Trusts -26.8% -52.0% -64.7% -55.9% -11.3%
Synchrony Financial SYF, -26.03% Finance/Rental/Leasing -26.0% -46.5% -53.2% -50.4% 53.5%
LyondellBasell Industries NV LYB, -25.49% Chemicals -25.5% -57.4% -64.7% -63.1% 13.6%
Realty Income Corp. O, -24.93% Real Estate Investment Trusts -24.9% -32.2% -36.4% -26.7% 16.8%
Lincoln National Corp. LNC, -24.91% Life/Health Insurance -24.9% -64.4% -67.9% -63.3% 15.0%
Darden Restaurants Inc. DRI, -24.66% Restaurants -24.7% -59.2% -61.7% -54.9% 9.2%
Source: FactSet

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