US Stocks Fall 0.93% Amid Healthcare and Materials Slump
The Morningstar US Total Market Index dropped 0.93% this week. Healthcare stocks led the decline with a 3.38% loss. Basic materials followed with a 2.69% drop. Energy was the only major sector to gain.
The Morningstar US Total Market Index declined 0.93% for the week ended September 11. Healthcare stocks suffered the heaviest losses, falling 3.38%. Basic materials stocks dropped 2.69%. These two sectors dragged the broader market lower.
Energy was the top-performing sector, rising 1.44%. Communication services added 0.28%. Small-cap stocks fell 2.21%, outpacing the decline in large-cap shares. Value stocks dropped 1.3%, while growth stocks fell 0.62%.
Broad Market Breadth Shows Weakness
Among 886 US-listed companies covered by GN auto markets/indices: stock index, 78% declined. Only 22% of these stocks rose in value. Two stocks remained unchanged. The S&P 500 index fell 0.8% during the period. The Nasdaq composite dropped 0.66%.
Treasury Yields and Commodities Move
Yields on 10-year US Treasury notes rose to 4.95% from 4.78%. Yields on 2-year notes climbed to 4.56% from 4.37%. West Texas Intermediate crude oil prices surged 9.91% to $100.26 per barrel. Gold prices on the Comex exchange fell 2.19% to $4,378.60.
Top Gainers and Losers Identified
Hewlett Packard Enterprise was the top performer, gaining 19.40%. Skyworks Solutions rose 19.37%, and Qorvo climbed 13.44%. Nokia stocks increased 10.97%, while Cloudflare shares rose 9.90%. Cooper Companies was the worst performer, falling 22.57%. Novartis dropped 14.26%, and Tandem Diabetes Care declined 14.06%.
