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A few defensive names managed to stay in the green. Chevron gained 1.1%, benefiting from strength in the energy sector, while Coca-Cola and Johnson & Johnson also eked out modest gains.
Which Sectors Felt the Most Pressure?
Ten of the 11 S&P 500 sectors traded lower, led by consumer discretionary and communication services, down 1.9% and 1.1%, respectively. Information technology, materials, and real estate also struggled. Energy was the lone gainer, rising 0.3% as oil prices stabilized.
Despite Friday’s slide, six of the 11 sectors remained positive for the week. Consumer staples led the advance, up 1.7%, followed by energy and technology, both gaining over 1%. On the downside, consumer discretionary stocks were the worst performers, down 3% for the week, while communication services dropped 2%.
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