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Here are the worst-performing U.S. stocks as the Evergrande crisis rattles investors

By Philip van Doorn

Debt-market rumblings in China are affecting U.S. stocks, at least for now

An expected bond default by real estate company China Evergrande Group led to a tumble for U.S. stocks Monday.

The Dow Jones Industrial Average fell 1.8%, while the S&P 500 Index was down 1.7%, and the Nasdaq Composite Index fared worse, with a 2.2% decline for the session.

Evergrande alone accounts for about 40% of high-yield debt issued by Chinese real estate developers -- that is, debt that is rated below investment-grade or unrated, according to Sean Darby, a global equity strategist at Jefferies Hong Kong Ltd.

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."

Read:S&P Global says default by China Evergrande could test government's capacity to backstop 'potentially substantial failures'

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 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) declined 3.8% on Monday.

Read:Evergrande fears sink stock market -- Here's what investors need to know about what happens next

Dow Jones Industrial Average

All but one of the 30 components of the Dow Jones Industrial Average were down Monday:

Company  Price change -- Sept. 20  Price change -- 2021  Decline from 52-week high  Date of 52-week high 
Caterpillar Inc. CAT  -4.5%  4.8%  -22.6%  06/04/2021 
Goldman Sachs Group Inc. GS  -3.4%  43.4%  -10.1%  08/30/2021 
JPMorgan Chase & Co. JPM  -3.0%  20.4%  -8.6%  06/02/2021 
Dow Inc. DOW  -2.7%  1.2%  -21.3%  05/18/2021 
Walt Disney Co. DIS  -2.7%  -1.5%  -12.1%  03/08/2021 
Walgreens Boots Alliance Inc. WBA  -2.5%  21.4%  -15.2%  04/06/2021 
Intel Corp. INTC  -2.4%  6.3%  -22.6%  04/12/2021 
Travelers Cos. Inc. TRV  -2.3%  8.8%  -6.5%  08/25/2021 
Apple Inc. AAPL  -2.1%  7.7%  -9.1%  09/07/2021 
American Express Co. AXP  -2.0%  32.8%  -10.6%  07/23/2021 
Chevron Corp. CVX  -2.0%  12.3%  -16.2%  05/10/2021 
Amgen Inc. AMGN  -1.9%  -6.4%  -22.3%  01/28/2021 
Microsoft Corp. MSFT  -1.9%  32.3%  -3.8%  08/20/2021 
Boeing Co. BA  -1.8%  -2.1%  -24.8%  03/15/2021 
UnitedHealth Group Inc. UNH  -1.8%  17.7%  -4.3%  08/20/2021 
Cisco Systems Inc. CSCO  -1.7%  24.9%  -7.3%  08/25/2021 
McDonald's Corp. MCD  -1.4%  11.4%  -3.2%  07/27/2021 
Nike Inc. Class B NKE  -1.4%  9.0%  -11.5%  08/06/2021 
Walmart Inc. WMT  -1.4%  -1.0%  -7.1%  12/01/2020 
Home Depot Inc. HD  -1.3%  24.7%  -4.2%  05/10/2021 
Honeywell International Inc. HON  -1.3%  1.4%  -8.9%  08/02/2021 
Procter & Gamble Co. PG  -1.0%  2.7%  -2.9%  09/13/2021 
Salesforce.com Inc. CRM  -0.9%  16.0%  -6.2%  08/26/2021 
Visa Inc. Class A V  -0.8%  0.6%  -12.9%  07/27/2021 
Coca-Cola Co. KO  -0.7%  -1.4%  -6.1%  07/21/2021 
International Business Machines Corp. IBM  -0.7%  6.7%  -12.1%  06/10/2021 
Johnson & Johnson JNJ  -0.6%  4.1%  -9.0%  08/20/2021 
3M Co. MMM  -0.5%  3.3%  -13.6%  05/10/2021 
Verizon Communications Inc. VZ  0.0%  -7.6%  -12.4%  12/02/2020 
Merck & Co. Inc. MRK  0.3%  -7.8%  -12.6%  09/18/2020 
Source: FactSet 

Click on the tickers for more about each stock. Click here for Tomi Kilgore's new, detailed guide to the wealth of information available for free on the quote page.

S&P 500

Among the S&P 500, 89% of stocks were down Monday. Here are the 20 that pulled back the most for the session:

Company  Price change -- Sept. 20  Price change -- 2021  Decline from 52-week high  Date of 52-week high 
Invesco Ltd. IVZ  -8.7%  37.5%  -19.3%  06/07/2021 
Nucor Corp. NUE  -7.6%  82.1%  -24.8%  08/13/2021 
APA Corp. APA  -6.1%  33.3%  -22.2%  06/07/2021 
Tapestry Inc. TPR  -5.9%  22.3%  -23.5%  05/07/2021 
Freeport-McMoRan Inc. FCX  -5.7%  19.8%  -32.4%  05/10/2021 
Occidental Petroleum Corp. OXY  -5.4%  47.2%  -23.9%  07/01/2021 
Devon Energy Corp. DVN  -5.4%  78.2%  -11.9%  06/07/2021 
Ford Motor Co. F  -5.4%  45.8%  -22.1%  06/04/2021 
Enphase Energy Inc. ENPH  -5.3%  -13.1%  -33.4%  02/10/2021 
Hess Corp. HES  -5.2%  28.1%  -25.8%  06/23/2021 
Albemarle Corp. ALB  -5.0%  46.1%  -14.9%  09/10/2021 
Franklin Resources Inc. BEN  -5.0%  19.1%  -17.2%  06/07/2021 
Ameriprise Financial Inc. AMP  -4.9%  31.9%  -7.8%  08/30/2021 
Pioneer Natural Resources Co. PXD  -4.9%  31.1%  -14.8%  05/10/2021 
Principal Financial Group Inc. PFG  -4.9%  24.9%  -9.4%  08/25/2021 
Lincoln National Corp. LNC  -4.8%  27.8%  -10.3%  06/07/2021 
Caterpillar Inc. CAT  -4.5%  4.8%  -22.6%  06/04/2021 
Baker Hughes Co. Class A BKR  -4.4%  9.7%  -13.9%  05/18/2021 
Mosaic Co. MOS  -4.4%  39.6%  -16.0%  05/18/2021 
Marathon Oil Corp. MRO  -4.3%  72.1%  -19.9%  07/01/2021 
Source: FactSet 

Nasdaq-100

Here are the 10 weakest performers among the components of the Nasdaq-100 Index on Monday:

Company  Price change -- Sept. 20  Price change -- 2021  Decline from 52-week high  Date of 52-week high 
Pinduoduo Inc. ADR Class A PDD  -6.5%  -47.0%  -55.7%  02/16/2021 
Baidu Inc ADR Class A BIDU  -4.8%  -28.6%  -56.5%  02/22/2021 
JD.com Inc. ADR Class A JD  -4.6%  -15.6%  -31.5%  02/17/2021 
Activision Blizzard Inc. ATVI  -4.2%  -18.0%  -27.1%  02/16/2021 
KLA Corp. KLAC  -4.0%  37.2%  -5.2%  09/17/2021 
Tesla Inc. TSLA  -3.9%  3.5%  -18.9%  01/25/2021 
Applied Materials Inc. AMAT  -3.7%  57.0%  -7.2%  04/05/2021 
Match Group Inc. MTCH  -3.6%  0.2%  -13.3%  02/11/2021 
Nvidia Corp. NVDA  -3.6%  61.7%  -8.4%  08/30/2021 
NetEase Inc. ADR NTES  -3.4%  -16.4%  -40.4%  02/11/2021 
Source: FactSet 

Don't miss:Investors who want income need to understand this overlooked stock-market strategy

-Philip van Doorn

 

(END) Dow Jones Newswires

09-20-21 1646ET

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