The average stock in the S&P 500 is now down 4% since the index peaked on February 18th. We broke the index into deciles (10 groups of 50 stocks) based on stock performance during the prior rally from 11/30 to 2/18 and then calculated the average performance of stocks in each decile since 2/18 to see how the biggest winners during the run-up have been holding up as the market has been falling. The results weren't pretty for the rally winners. As shown below, the two deciles (100 stocks) of the best performing stocks during the rally are averaging by far the biggest declines since 2/18. The stocks that underperformed during the rally are also down, but they're outperforming the index as a whole.
Below is a table showing the worst performing S&P 500 stocks since the bull market peak on 2/18. As shown, NVIDIA (NASDAQ:NVDA) tops the list of losers with a decline of nearly 30%. Monster Worldwide (NYSE:MWW) ranks 2nd with a decline of 17.5%, followed closely by Frontier Communications (NASDAQ:FTR) in third at -17.44%. Other notables on the list include Netflix (NASDAQ:NFLX), Hewlett-Packard (NYSE:HPQ), First Solar (NASDAQ:FSLR), eBay (NASDAQ:EBAY), Cummins (NYSE:CMI), US Steel (NYSE:X), and Amazon.com (NASDAQ:AMZN). Nearly all of the stocks shown were up more than 10% during the 11/30-2/18 market rally.