Stocks closed lower on Wall Street Tuesday, ending the first three months of the year with a decline of 20%, the market's worst quarter since the dark days of the financial crisis.
The loss for the S&P 500 in March alone was 12.5% as the surge of coronavirus cases sent investors fleeing from the market. Stocks did claw back some of those losses with a rally the past week. Massive aid for the economy and markets from the Federal Reserve and Capitol Hill have helped spur some buying, although the S&P 500 and the Dow fell more than 1.5% Tuesday.
The S&P 500 index fell 42.06 points, or 1.6%, to 2,584.59.
The Dow Jones Industrial Average dropped 410.32 points, or 1.8%, to 21,917.16.
The Nasdaq slid 74.05 points, or 1%, to 7,700.10.
The Russell 2000 index of smaller company stocks gave up 5.21 points, or 0.5%, to 1,153.10.
For the week:
The S&P 500 is up 43.12 points, or 1.7%.
The Dow is up 280.38 points, or 1.3%.
The Nasdaq is up 197.72 points, or 2.6%.
The Russell 2000 is up 21.11 points, or 1.9%.
For the year:
The S&P 500 is down 646.19 points, or 20%.
The Dow is down 6,621.28 points, or 23.2%.
The Nasdaq is down 1,272.51 points, or 14.2%
The Russell 2000 is down 515.37 points, or 30.9%.
20 "Past Their Prime" Stocks to Dump From Your Portfolio
Did you know the S&P 500 as we know it today does not look anything close to what it looked like 30 years ago? In 1987, IBM, Exxon, GE, Shell, AT&T, Merck, Du Pont, Philip Morris, Ford and GM had the largest market caps on the S&P 500. ExxonMobil is the only company on that list to remain in the top 10 in 2017. Even just 15 years ago, companies like Radio Shack, AOL, Yahoo and Blockbuster were an important part of the S&P 500. Now, these companies no longer exist as public companies.
As the years go by, some companies lose their luster and others rise to the top of the markets. We've already seen this in the last few decades with tech companies surpassing industrial and energy companies that once dominated the S&P 500. It's hard to know what the next mega trend will be that will knock Apple, Google and Amazon off the top rankings of the S&P 500, but we do know that companies won't stay on the S&P 500 forever.
We've identified 20 companies that are past their prime. They aren't at risk of a near-term delisting from the S&P 500, but they are showing negative earnings growth for the next several years. If you own any of these stocks, consider selling them now before they become the next Yahoo, Radio Shack, Blockbuster, AOL and are sold off for a fraction of their former value.
View the "20 "Past Their Prime" Stocks to Dump From Your Portfolio".