Netflix is the S&P 500’s worst performer this week — here are the next 14

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Investors remained sour for a second consecutive session on Friday as they continued to digest comments from Federal Reserve Chairman Jerome Powell about the prospect for rapidly rising interest rates. The action had the broad indexes revisiting their mid-March lows:

  • The Dow Jones Industrial Average
    DJIA
    fell 981.36 points (or 2.8%) to close at 33,811.40, its lowest closing level since March 15. The Dow fell 1.9% for the week; it is now down 7% for 2022. (All price changes in this article exclude dividends.)

  • The S&P 500
    SPX
    was down 2.8% on Friday and also hit its lowest closing level since March 15. The U.S. benchmark index fell 2.8% for the week and is now down 10.4% for 2022.

  • The Nasdaq Composite Index
    COMP
    fell 2.5% on Friday, to its lowest level since March 14. The Nasdaq declined 3.8% for the week. It has fallen 17.9% this year.

Read: Fed chief Powell backs moving more quickly on interest-rate hikes

Breaking down the S&P 500

The worst-performing stock among the S&P 500 this week was Netflix Inc.
NFLX,
which plunged 35% on Thursday after estimating it would lose $2 million subscribers during the second quarter. Netflix ended the week with a 37% decline.

Read: This math shows why Netflix’s stock price could plunge to $121

All but two of the 11 sectors of the S&P 500 were down for the week, led by communications services, which includes Netflix:

S&P 500 sector

Price change – April 15 through April 22

Price change – April 22

Price change – 2022

Price change – 2021

Communication Services

-7.7%

-3.3%

-22.8%

20.5%

Energy

-4.6%

-2.4%

37.2%

47.7%

Materials

-3.7%

-3.7%

-5.5%

25.0%

Health Care

-3.6%

-3.6%

-5.3%

24.2%

Information Technology

-2.5%

-2.8%

-17.9%

33.4%

Utilities

-2.4%

-1.7%

3.8%

14.0%

Financials

-2.0%

-3.0%

-7.5%

32.5%

Consumer Discretionary

-1.8%

-2.4%

-14.3%

23.7%

Industrials

-1.6%

-2.5%

-7.0%

19.4%

Consumer Staples

0.4%

-1.6%

2.9%

15.6%

Real Estate

1.2%

-1.8%

-4.9%

42.5%

S&P 500

-2.8%

-2.8%

-10.4%

26.9%

Source: FactSet

Communications services sector is also the worst-performing sector so far in 2022.

Here are the week’s worst 15 performers among the S&P 500:

Company

Ticker

Sector

Price change – April 15 through April 22

Price change – April 22

Price change – 2022

Price change – 2021

Netflix Inc.

NFLX Communication Services

-36.8%

-1.2%

-64.2%

11.4%

Enphase Energy Inc.

ENPH Information Technology

-19.4%

-1.9%

-16.0%

4.3%

HCA Healthcare Inc

HCA Health Care

-19.3%

-21.8%

-18.0%

56.2%

Warner Bros. Discovery Inc. Series A

WBD Communication Services

-17.3%

-4.1%

-12.6%

-21.8%

Dentsply Sirona Inc.

XRAY Health Care

-16.5%

-2.7%

-26.6%

6.6%

SolarEdge Technologies Inc.

SEDG Information Technology

-16.3%

-1.0%

-10.3%

-12.1%

Match Group Inc.

MTCH Communication Services

-16.1%

-0.5%

-41.6%

-12.5%

PayPal Holdings Inc.

PYPL Information Technology

-15.9%

-3.8%

-54.4%

-19.5%

Moderna Inc.

MRNA Health Care

-15.2%

-2.9%

-44.7%

143.1%

Charles Schwab Corp

SCHW Financials

-15.0%

-4.0%

-16.4%

58.6%

Etsy Inc.

ETSY Consumer Discretionary

-15.0%

-3.3%

-55.1%

23.1%

Freeport-McMoRan Inc.

FCX Materials

-14.8%

-6.8%

0.4%

60.4%

Paramount Global Class B

PARA Communication Services

-14.7%

-3.9%

2.8%

-19.0%

Baker Hughes Company Class A

BKR Energy

-13.6%

-2.2%

33.8%

15.4%

Meta Platforms Inc. Class A

FB Communication Services

-12.4%

-2.1%

-45.3%

23.1%

Source: FactSet

Click the tickers for more about each company, including full coverage of news that may have helped lead to their declines this week.

You should also read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

Looking at the list of this week’s worst performers, two other companies with streaming services were hit hard — the newly formed Warner Brothers Discovery Inc.
WBD,
which is shutting down the CNN+ service less than a month after it was launched, and Paramount Global
PARA,
which streams through Paramount+.

But several other companies that feature numbers of users or participants in their quarterly financial news releases pulled back significantly, including Match Group Inc.
MTCH,
PayPal Holdings Inc.
PYPL,
Etsy Inc.
ETSY
and Facebook’s holding company Meta Platforms Inc.
FB.

Don’t miss: How to position your investments before the Federal Reserve causes a bear market

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