Amid the market’s worst first half of a year in over five decades, tech and cruise line stocks have been among the worst performers in the S&P 500, while energy, healthcare and consumer companies have all seen shares outperform despite rising recession fears.
The benchmark S&P 500 index is down more than 21% this year, officially falling into bear market territory earlier this month: Nearly 400 stocks in the index are negative so far in 2022, while roughly 150 stocks have fallen by more than 20%.
The worst-performing stock this year is streaming giant Netflix, which has plunged more than 70%, followed by e-commerce company Etsy (down 66%) and orthodontics company Align Technology (down 63%).
With the Federal Reserve scrambling to raise interest rates in a bid to combat high inflation, tech stocks have been particularly hard-hit in 2022: Digital payments giant PayPal is down more than 60%, Facebook parent Meta 51% and chipmaker Nvidia 48%.
Cruise lines have also been in turmoil amid weak demand and higher costs, with Carnival falling 56%, Royal Caribbean 53% and Norwegian Cruise Line 47%.
Other notable declines so far this year include legacy automakers such as Ford and General Motors, down 46% and 45%, respectively, while vaccine maker Moderna has seen shares plunge 44%.
Though the market selloff has spared few areas of the market, several stocks have still outperformed: Energy company Occidental Petroleum has jumped roughly 100%, while pharmaceutical giant Bristol-Myers Squibb is up 23% and brewer Molson Coors 18%.