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.

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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.

Source: https://www.marketwatch.com/story/meta-is-one-of-todays-worst-s-p-500-performers-but-these-5-other-stocks-have-lost-387-billion-in-value-11663087942?siteid=yhoof2&yptr=yahoo