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Nearly 8% of the S&P 500 has taken a bath this week -- 39 stocks fell at least 10%

MarketWatch2022-01-08

The worst performers in 2022's first week of trading include Humana, Moderna, Netflix and Salesforce.com

Taking a bath might be no fun — especially in the stock market.

This stock market is very sensitive to any hint of an increase in interest rates, so it may be no surprise that many tech high-flyers have been falling to earth.

But there are others whose shareholders are feeling the pain; 39 components of the S&P 500 have fallen 10% for a range of reasons.

For example, homebuilder D.R. Horton Inc. was down 6.2% on Jan. 7, when the benchmark S&P 500 Index declined only 0.4%. Why would the company's shares fall so much in only one day when demand for housing in the U.S. is so high? Because even though mortgage loan rates are still at historically low levels, their recent increase to their highest levels in a year has put some people into panic mode.

The decline in the U.S. unemployment rate to 3.9% in December, the high inflation rate and this week's release of the minutes of the last Federal Open Market Committee meeting all have investors expecting a significant increase in interest rates. That means more demand for bonds as yields become more attractive. And that can put downward pressure on the stock market, especially tech stocks that trade at high valuations to earnings.

To be sure, not all of these declines have been caused by the fear of rising interest rates. Humana Inc. $(HUM)$ is the worst performer of 2022 among the S&P 500. The shares plunged 19% on Jan. 6 after the company lowered its guidance for membership growth for individual Medicare Advantage plans in 2022. CEO Bruce Broussard made several comments about the company being "disadvantaged," but pointed to 2023 for expected investments to better compete in that market.

The S&P 500 Index has pulled back 1.9% so far in 2022 through the close on Jan. 7. (All price changes in this article exclude dividends). But 125 components of the index are down at least 5% this year.

Here are the 39 stocks in the S&P 500 that have fallen at least 10% this year:

CompanyTickerPrice change -- 2022Price change -- Jan. 7Closing price -- Jan. 7Decline from 52-week highDate of 52-week high
Humana Inc.HUM-21.7%-1.2%$363.17-23.6%05/10/2021
Enphase Energy Inc.ENPH-20.7%-4.2%$145.13-48.6%11/22/2021
Bio-Techne Corp.TECH-19.7%-2.6%$415.28-23.6%09/23/2021
Align Technology Inc.ALGN-16.8%-3.6%$546.99-25.8%09/23/2021
West Pharmaceutical Services Inc.WST-16.7%-4.2%$390.47-17.9%09/09/2021
EPAM Systems Inc.EPAM-16.7%-3.9%$556.68-23.3%11/05/2021
IDEXX Laboratories Inc.IDXX-16.4%-4.5%$550.30-22.2%07/29/2021
Moderna Inc.MRNA-15.8%-1.0%$213.86-57.0%08/10/2021
Etsy Inc.ETSY-15.4%-6.0%$185.15-39.8%11/26/2021
Paycom Software Inc.PAYC-14.3%-0.3%$355.80-36.3%11/02/2021
Ceridian HCM Holding Inc.CDAY-14.3%-0.8%$89.57-31.3%11/03/2021
Bath & Body Works Inc.BBWI-14.2%-3.9%$59.90-27.0%11/18/2021
Zoetis Inc. Class AZTS-13.5%-2.9%$211.09-15.3%12/30/2021
Charles River Laboratories International Inc.CRL-12.8%-1.6%$328.68-28.6%09/24/2021
ServiceNow Inc.NOW-12.7%-1.3%$566.39-20.0%11/04/2021
Fortinet Inc.FTNT-12.4%0.2%$314.66-15.4%12/29/2021
Bio-Rad Laboratories Inc. Class ABIO-12.2%-3.0%$663.16-20.4%09/02/2021
DexCom Inc.DXCM-12.2%-2.4%$471.49-28.5%11/18/2021
D.R. Horton Inc.DHI-12.2%-6.2%$95.24-13.8%12/13/2021
Intuit Inc.INTU-11.8%-3.2%$567.56-20.8%11/19/2021
Lennar Corp. Class ALEN-11.4%-4.7%$102.95-12.4%12/13/2021
SolarEdge Technologies Inc.SEDG-11.3%0.3%$248.91-36.1%11/22/2021
ABIOMED Inc.ABMD-11.1%-5.1%$319.28-17.6%01/28/2021
Pool Corp.POOL-11.1%-3.3%$503.17-13.6%11/19/2021
Cadence Design Systems Inc.CDNS-10.9%-4.1%$166.02-13.8%12/28/2021
Zebra Technologies Corp. Class AZBRA-10.8%-4.4%$530.86-13.7%12/10/2021
Iron Mountain Inc.IRM-10.6%0.0%$46.79-11.9%12/31/2021
SBA Communications Corp. Class ASBAC-10.6%-0.4%$347.91-11.1%12/31/2021
Accenture Plc Class AACN-10.6%-1.9%$370.75-11.2%12/29/2021
Gartner Inc.IT-10.4%-2.2%$299.39-18.9%11/02/2021
Synopsys Inc.SNPS-10.4%-4.2%$330.36-12.5%12/28/2021
Cintas Corp.CTAS-10.3%-1.4%$397.42-13.9%12/13/2021
Netflix Inc.NFLX-10.2%-2.2%$541.06-22.8%11/17/2021
Salesforce.com Inc.CRM-10.2%-0.4%$228.31-26.8%11/09/2021
Danaher Corp.DHR-10.1%-2.7%$295.67-11.5%09/10/2021
Tyler Technologies Inc.TYL-10.1%-2.0%$483.59-13.3%11/17/2021
Generac Holdings Inc.GNRC-10.1%-0.3%$316.55-39.6%11/02/2021
Copart Inc.CPRT-10.0%-3.6%$136.41-15.3%11/16/2021

Source: FactSet

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment58

  • PearlynCSY
    ·2022-01-09
    Going forward, expect a lot of headwinds for the US economy and downward pressure on the stock markets. Last 2 years bull run was mainly due to massive QE and ultra loose monetary policy. Such cheap money policy is pushing US inflation to multi-decade high causing tremendous hardship on the lower income households, which is not sustainable. The Biden Administration will be forced to slow down the printing of USD and this will negatively impact the stock markets.
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  • JTC
    ·2022-01-09
    Don't cry cry will make it worst mud [Happy] [Happy] [Happy] AL the time 
    Reply
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  • SPOT_ON
    ·2022-01-09
    Cry baby!!!
    Reply
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  • seojun
    ·2022-01-09
    Freezing bath....
    Reply
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  • MN27
    ·2022-01-09
    Interesting
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  • Magdalene89
    ·2022-01-09
    Latest 
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  • robot1234
    ·2022-01-09
    US has been abusing the world financial system in the last 50 years. US President Richard Nixon arbitrarily stopped linking the US dollar to the gold price on Aug. 15, 1971. And forced every country to accept USD as the int'l reserve currency, which has conferred upon the U.S. enormous advantages, such as allowing the US to engage in massive printing of USD. The US National Debt is now at $31.4 trillion.
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  • Hangmau
    ·2022-01-09
    [Sad] 
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  • KYHBKO
    ·2022-01-09
    let's monitor this closely. for the medical companies, it is not too surprising but some of these are the mega cap stocks. 
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    • spkek
      cool
      2022-01-10
      Reply
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    • seojun
      agree
      2022-01-09
      Reply
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    • Dave0123
      like
      2022-01-09
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  • Rockworld
    ·2022-01-09
    Sad
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  • MHh
    ·2022-01-09
    Too excited for lunar new year! Wear red first![LOL] 
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  • Gackky
    ·2022-01-09
    and 92% never taken bath.. so their smells willbe [Surprised] [Surprised] .. everyone must rem to shower regularly [Sly] 
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    • seojun
      ok
      2022-01-09
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  • jojoc
    ·2022-01-08
    Ok
    Reply
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  • SeanSak
    ·2022-01-08
    Like n comment
    Reply
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    • WVY
      K
      2022-01-08
      Reply
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  • sfleong1
    ·2022-01-08
    Like n comment
    Reply
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  • PBL77
    ·2022-01-08
    Good
    Reply
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    • CubTrader
      Good to buy now?
      2022-01-08
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  • ClickLike
    ·2022-01-08
    Buy buy buy
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  • estherytwu
    ·2022-01-08
    Ok
    Reply
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  • RS142
    ·2022-01-08
    Cry cry...all US stocks going to fall
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  • koolgal
    ·2022-01-08
    Moderna, Netflix and SalesForce are down 10% in the first week of 2022.  Must check them out to see if they are good buys at this point. 🤔
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    • koolgal
      Thanks
      2022-01-09
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    • THEWIZARD
      👍
      2022-01-09
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    • koolgal
      Good idea.
      2022-01-09
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