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Citigroup downgraded U.S. stocks to “neutral” from “overweight,” citing concerns about fading market momentum. Investors are also weighing Trump’s economic policies, including potential federal spending cuts that Treasury Secretary Scott Bessent warned could trigger a “detox period” for the economy.
Which Sectors Took the Hardest Hit?
Losses were broad-based across sectors, with financials leading the decline, dropping 1.3%. Industrials fell 1.71%, weighed down by uncertainty over trade policies. Energy stocks lost 1.02%, while materials and healthcare sectors each declined more than 1%.
Consumer discretionary stocks held up slightly better, falling 0.68%, while technology stocks lost 0.79%, showing relative resilience after Monday’s sharp sell-off. However, the majority of the S&P 500 is already in correction territory—73% of its components are at least 10% below their 52-week highs, while 203 stocks are in bear market territory, down more than 20%.
Which Stocks Were in Focus?
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