Today’s broad decline of 3.11% was the worst 500 day since the 4.28% decline on 4/20/09, and leaves the market 7.57% off the 10/19/10 high. Financials were down the most (-4.15%), with Consumers Staples and Telecommunications tied for the best performer, declining 2.34% each. Concern over jobs was on the forefront, but built-up profits since the March 9, 2009 low made the taking much easier.
In all the commotion there was good news on the dividend front, 5 issues raised their rate today, bringing the 500’s February dividend increase count to 11; see file for details. Download file