These five stocks in the S&P 500 lost almost half a trillion dollars in value in one day amid widespread wipeout

A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August. Fear of the Federal Reserve’s ongoing tightening of monetary policy to fight inflation sent the Dow Jones Industrial Average
DJIA,
-3.94%
down 1,276 points (or 3.9%) to 31,104, with all 30 components showing declines as selling activity increased late in the trading session. It was the largest drop since June 2020.

The benchmark S&P 500
SPX,
-4.32%
fell 4.3%, with all but six component stocks down for the day. The Nasdaq Composite Index
COMP,
-5.16%
fared even worse with a 5.2% decline, reflecting selling of tech-oriented stocks. Altogether, it was the worst one-day decline for the three indexes since June 11, 2020. The Nasdaq-100 index
NDX,
-5.54%
fell 5.5% with every single component stock ending in the red. Read: U.S. inflation roars back in August, CPI shows, despite falling gas prices Nvidia Corp.
NVDA,
-9.47%
and Meta Platforms Inc.
META,
-9.37%
led the plunge for the largest tech-oriented companies in the S&P 500, each sliding 9.4%, followed by Advanced Micro Devices Inc.
AMD,
-8.99%,
which dropped 8.8%. The five largest companies in the S&P 500 by market capitalization shed $477 billion in value, as you can see here:
Company

Ticker

Market cap – close on Sept. 13 ($mil)

Change  in market cap – Sept. 13 ($mil)

Change in market cap – 2022 ($mil)

Price change – Sept. 13

Price change – 2022

Apple Inc.

AAPL,
-5.87%

$2,472,164

-$154,279

-$441,120

-5.9%

-13.4%

Microsoft Corp.

MSFT,
-5.50%

$1,881,179

-$107,468

-$643,905

-5.4%

-25.0%

Amazon.com Inc.

AMZN,
-7.06%

$1,291,171

-$98,921

-$399,832

-7.1%

-24.0%

Alphabet Inc. Class A

GOOGL,
-5.90%

$1,268,670

-$79,277

-$647,237

-5.9%

-28.0%

Tesla Inc.

TSLA,
-4.04%

$916,603

-$37,288

-$144,684

-3.9%

-17.0%

Totals

$7,829,786

-$477,234

-$2,276,778

Source: FactSet

Worst decliners in the S&P 500 Among the six stocks in the S&P 500 that didn’t decline on Sept. 13, the standout performer was Twitter Inc.
TWTR,
+0.80%,
which rose 0.8% after the company’s shareholders approved Tesla CEO Elon Musk’s disputed takeover offer. Twitter’s stock is now down 39% from its 52-week intraday high on Oct. 20, 2021. Here are the 20 worst performers in the large-cap benchmark index for the day:
Company

Ticker

Price change – Sept. 13

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Eastman Chemical Co.

EMN,
-11.34%

-11.1%

-30.2%

-34.8%

01/19/2022

Nvidia Corp.

NVDA,
-9.47%

-9.4%

-55.3%

-62.1%

11/22/2021

Meta Platforms Inc. Class A

META,
-9.37%

-9.4%

-54.5%

-60.1%

09/10/2021

Lumen Technologies Inc.

LUMN,
-9.14%

-9.1%

-27.1%

-36.8%

11/05/2021

Western Digital Corp.

WDC,
-9.13%

-9.1%

-39.7%

-43.3%

01/05/2022

Advanced Micro Devices Inc.

AMD,
-8.99%

-8.8%

-46.4%

-53.1%

11/30/2021

Caesars Entertainment Inc.

CZR,
-8.62%

-8.7%

-51.3%

-62.0%

10/01/2021

Whirlpool Corp.

WHR,
-8.35%

-8.5%

-37.6%

-40.4%

01/05/2022

Generac Holdings Inc.

GNRC,
-8.40%

-8.2%

-39.3%

-59.3%

11/02/2021

NXP Semiconductors NV

NXPI,
-8.05%

-8.2%

-31.8%

-35.3%

12/07/2021

Capital One Financial Corp.

COF,
-7.97%

-8.0%

-30.4%

-42.2%

10/21/2021

Synchrony Financial

SYF,
-7.87%

-7.9%

-31.9%

-39.8%

10/19/2021

Lennar Corp. Class A

LEN,
-7.91%

-7.9%

-36.1%

-36.8%

12/13/2021

Align Technology Inc.

ALGN,
-7.74%

-7.8%

-62.4%

-66.5%

09/23/2021

Netflix Inc.

NFLX,
-7.78%

-7.8%

-63.8%

-68.9%

11/17/2021

Qorvo Inc.

QRVO,
-7.70%

-7.8%

-44.9%

-53.1%

09/14/2021

Franklin Resources Inc.

BEN,
-7.89%

-7.6%

-26.2%

-35.4%

11/02/2021

Micron Technology Inc.

MU,
-7.46%

-7.4%

-42.4%

-45.5%

01/05/2022

BlackRock Inc.

BLK,
-7.45%

-7.3%

-29.5%

-33.7%

11/12/2021

Paramount Global Class B

PARA,
-7.13%

-7.3%

-25.5%

-45.4%

09/28/2021

Source: FactSet

Click on the tickers for more about each company. Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on MarketWatch quote pages. Don’t miss: 12 semiconductor stocks bucking the downcycle trend And for income: Preferred stocks can offer hidden opportunities for dividend investors. Just look at this JPMorgan Chase example. Hear from Ray Dalio at MarketWatch’s Best New Ideas in Money Festival on Sept. 21 and 22 in New York. The hedge-fund pioneer has strong views on where the economy is headed.

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