Here are the worst-performing U.S. stocks as the Evergrande crisis rattles investors
An expected bond default by real estate company China Evergrande Group led to an early tumble for U.S. stocks Monday.
The Dow Jones Industrial Average DJIA was down 1%, while the S&P 500 Index SPX fell 1.3%, and the Nasdaq Composite Index COMP dropped 1.7% in early trading.
Evergrande is China’s most indebted real estate developer. S&P Global Ratings said Monday that missed bond payments by the developer “could broadly rattle investors’ confidence in China’s property sector and for speculative-grade markets.”
Analysts at BCA Research wrote in their Strategy Report for clients on Sept. 20: “While the U.S. is not immune to disruptions in the rest of the world, it is a comparatively closed economy that is generally less susceptible to external troubles and has minimal financial links with the Middle Kingdom.”
But the early action on Monday showed that day-to-day events, even on the other side of the world, can unnerve investors, with energy, commodity and industrial stocks hit especially hard.
The BCA analysts went on to say that a review of filings for the largest U.S. banks showed that “only Citigroup, which operates a meaningful commercial banking franchise in Hong Kong, has direct cross-border exposures that amount to as much as 1% of assets.” Shares of Citigroup Inc. C were down 3.2% in the first few minutes of trading on Monday.
Dow Jones Industrial Average
All but two of the 30 components of the Dow Jones Industrial Average were down in early trading Monday:
| Company | Price change – Sept. 20 | Price change – 2021 | Decline from 52-week high |
| Caterpillar Inc. CAT | -4.2% | 5.1% | -22.4% |
| Goldman Sachs Group Inc. GS | -3.4% | 43.4% | -10.1% |
| Chevron Corp. CVX | -2.6% | 11.6% | -16.7% |
| Dow Inc. DOW | -2.5% | 1.4% | -21.1% |
| JPMorgan Chase & Co. JPM | -2.5% | 21.0% | -8.2% |
| American Express Co. AXP | -2.1% | 32.7% | -10.7% |
| Walt Disney Co. DIS | -2.1% | -0.9% | -11.5% |
| Intel Corp. INTC | -2.1% | 6.6% | -22.5% |
| Nike Inc. Class B NKE | -2.1% | 8.3% | -12.1% |
| Walgreens Boots Alliance Inc. WBA | -1.9% | 22.1% | -14.7% |
| Boeing Co. BA | -1.9% | -2.2% | -24.9% |
| Travelers Cos. Inc. TRV | -1.8% | 9.3% | -6.1% |
| Visa Inc. Class A V | -1.7% | -0.4% | -13.7% |
| Salesforce.com Inc. CRM | -1.7% | 15.1% | -6.9% |
| Cisco Systems Inc. CSCO | -1.3% | 25.4% | -6.9% |
| 3M Co. MMM | -1.2% | 2.6% | -14.2% |
| Apple Inc. AAPL | -1.1% | 8.8% | -8.2% |
| McDonald’s Corp. MCD | -1.1% | 11.8% | -2.9% |
| Microsoft Corp. MSFT | -1.1% | 33.4% | -3.0% |
| International Business Machines Corp. IBM | -1.0% | 6.3% | -12.4% |
| Honeywell International Inc. HON | -1.0% | 1.7% | -8.7% |
| Coca-Cola Co. KO | -1.0% | -1.7% | -6.3% |
| Home Depot Inc. HD | -0.9% | 25.2% | -3.8% |
| UnitedHealth Group Inc. UNH | -0.9% | 18.7% | -3.5% |
| Johnson & Johnson JNJ | -0.6% | 4.0% | -9.0% |
| Walmart Inc. WMT | -0.4% | 0.0% | -6.1% |
| Verizon Communications Inc. VZ | -0.2% | -7.8% | -12.6% |
| Amgen Inc. AMGN | -0.1% | -4.7% | -20.8% |
| Procter & Gamble Co. PG | 0.0% | 3.7% | -2.0% |
| Merck & Co. Inc. MRK | 0.1% | -8.0% | -12.8% |
| Source: FactSet | |||
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S&P 500
Among the S&P 500, 92% of stocks were down early Monday. Here are the 15 that had fallen more than 4% in early trading:
| Company | Price change – Sept. 20 | Price change – 2021 | Decline from 52-week high |
| Nucor Corp. NUE | -9.0% | 79.4% | -25.9% |
| Freeport-McMoRan Inc. FCX | -7.0% | 18.1% | -33.3% |
| Albemarle Corp. ALB | -5.5% | 45.3% | -15.3% |
| BorgWarner Inc. BWA | -5.4% | 5.0% | -26.9% |
| NOV Inc. NOV | -5.1% | -7.5% | -29.5% |
| Mosaic Co. MOS | -5.0% | 38.8% | -16.5% |
| Diamondback Energy Inc. FANG | -4.8% | 62.5% | -23.3% |
| Occidental Petroleum Corp. OXY | -4.5% | 48.7% | -23.2% |
| APA Corp. APA | -4.3% | 35.8% | -20.7% |
| Fortinet Inc. FTNT | -4.3% | 93.1% | -10.9% |
| Invesco Ltd. IVZ | -4.2% | 44.2% | -15.4% |
| Caterpillar Inc. CAT | -4.2% | 5.1% | -22.4% |
| General Motors Co. GM | -4.2% | 18.1% | -23.5% |
| Devon Energy Corp. DVN | -4.1% | 80.7% | -10.7% |
| Source: FactSet | |||
Nasdaq-100
Here are the 10 weakest performers among the components of the Nasdaq-100 Index NDX early Monday:
| Company | Price change – Sept. 20 | Price change – 2021 | Decline from 52-week high |
| Pinduoduo Inc. ADR Class A PDD | -4.5% | -45.9% | -54.7% |
| JD.com Inc. ADR Class A JD | -4.1% | -15.2% | -31.2% |
| Applied Materials Inc. AMAT | -3.3% | 57.7% | -6.8% |
| Baidu Inc. ADR Class A BIDU | -3.3% | -27.5% | -55.8% |
| Trip.com Group Ltd. ADR TCOM | -3.0% | -17.1% | -38.2% |
| Micron Technology Inc. MU | -2.9% | -4.1% | -25.6% |
| Lam Research Corp. LRCX | -2.8% | 25.4% | -12.1% |
| KLA Corp. KLAC | -2.7% | 39.0% | -3.9% |
| Tesla Inc. TSLA | -2.7% | 4.7% | -17.9% |
| Nvidia Corp. NVDA | -2.7% | 63.3% | -7.5% |
| Source: FactSet | |||
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