Updated with Sept. 28 closing prices.
The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.
This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.
The Dow Jones Industrial Average
DJIA,
declined 1.6%, while the S&P 500 Index
SPX,
fell 2%. The Nasdaq Composite Index
COMP,
fared worst, tumbling 2.8%.
The yield on 10-year U.S. Treasury notes
TMUBMUSD10Y,
increased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.
Read: Dow skids as rising bond yields spark equity selloff
Combined, there are 523 stocks in the S&P 500 and Nasdaq-100
NDX,
indexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.
GOOGL,
GOOG,
are included:
| Company | Price change – Sept. 28 | Price change – 2021 through Sept. 27 | Closing price – Sept. 28 | Decline from 52-week high | 52-week high | Date of 52-week high |
|
Applied Materials Inc. AMAT, |
-6.9% | 65.4% | $132.89 | -9.0% | $146.00 | 04/05/2021 |
|
APA Corp. APA, |
-6.7% | 63.9% | $21.69 | -10.7% | $24.30 | 06/07/2021 |
|
ASML Holding N.V. ADR ASML, |
-6.6% | 71.3% | $780.17 | -12.9% | $895.93 | 09/14/2021 |
|
Moderna Inc. MRNA, |
-6.0% | 291.3% | $384.21 | -22.8% | $497.49 | 08/10/2021 |
|
Nvidia Corp. NVDA, |
-4.5% | 65.9% | $206.90 | -10.2% | $230.43 | 08/30/2021 |
|
Bio-Techne Corp. TECH, |
-4.4% | 61.1% | $488.87 | -10.1% | $543.85 | 09/23/2021 |
|
Fortinet Inc. FTNT, |
-4.2% | 102.4% | $287.88 | -10.6% | $322.00 | 09/07/2021 |
|
Generac Holdings Inc. GNRC, |
-4.2% | 95.2% | $425.34 | -8.9% | $466.92 | 09/10/2021 |
|
Alphabet Inc. Class C GOOG, |
-3.8% | 61.5% | $2,723.68 | -7.2% | $2,936.41 | 09/01/2021 |
|
Alphabet Inc. Class A GOOGL, |
-3.7% | 61.0% | $2,716.60 | -7.1% | $2,925.08 | 09/01/2021 |
|
Waters Corp. WAT, |
-3.7% | 53.9% | $366.82 | -14.3% | $428.22 | 09/08/2021 |
| Source: FactSet | ||||||
Click the tickers for more about each company. Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.
This post was originally published on Market Watch
