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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.
Tech stocks and cruise lines are among some of the biggest decliners in the first half of the year.
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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%.