Percentage Below 52-Week Highs by Sector

Heading into the second quarter of 2008, the average stock in the S&P 500 is currently trading 31.1% below its 52-week high. On a market cap basis, small caps (S&P 600) have taken the biggest hit with an average decline of 35.3%, while the average large cap (S&P 500) is down 26.8%.

Breaking out the results by sector shows that Consumer Discretionary stocks have been the hardest hit, with an average decline of 39.6% from their respective 52-week highs. While Financials have been ground zero for the market's weakness this year, the average decline in that sector is 33.6%, which places it as only the fourth worst behind Telecom Services (-38.2%) and Technology (-34.9%).