Home › stock market › Stocks just suffered through their worst day of 2019. These were the 8 biggest losers in the S&P 500.
Stocks just suffered through their worst day of 2019. These were the 8 biggest losers in the S&P 500. Daniel StraussAug 6, 2019, 02:29 IST
FILE - In this July 30, 2019, file photo trader Peter Tuchman, center, works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, Aug. 5. (AP Photo/Richard Drew, File) Associated Press
The S&P 500 index fell 3% on Monday as the stock market turned in its worst day of 2019. The losses came after China retaliated against the US for hitting the country with new tariffs. China's central bank allowed its currency to fall below a key threshold against the US dollar, which compounded trade-war fears among investors. Here are the eight biggest losers in the S&P 500 on Monday. Visit the Markets Insider home page for more stories .The escalating trade war between the US and China sent the stock market on a downward spiral to its worst day of 2019 on Monday.
The sharp sell-off came after China let the value of its currency slip below a key level on Monday in response to President Trump imposing a 10% tariff on an additional $300 billion worth of Chinese products.
The drop follows the worst week of the year for the S&P 500 index , which fell 3.1% for the five-day period ending last Friday after Trump announced his plan to hit China with more tariffs.
Below are the biggest losers within the S&P 500 , as of Monday.
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8. Fortinet
Ticker : FTNT
Industry: Cybersecurity
Stock decline: -6.03%
Source: Bloomberg
7. Diamondback Energy
Ticker : FANG
Industry: Energy
Stock decline: -6.20%
Source: Bloomberg
6. E*Trade
Ticker : ETFC
Industry: Financial services
Intra-day move: -6.25%
Source: Bloomberg
5. Tapestry
Ticker : TPR
Industry: Fashion
Stock decline: -6.42%
Source: Bloomberg
3. Nvidia
Ticker : NVDA
Industry: Semiconductor
Stock decline: -6.45%
Source: Bloomberg
3. Valero Energy
Ticker : VLO
Industry: Energy
Stock decline: -6.64%
Source: Bloomberg
2. Wynn Resorts
Ticker : WYNN
Industry: Casinos and Hotels
Stock decline: -7.18%
Source: Bloomberg
1. Nektar Therapeutics
Ticker : NKTR
Industry: Biopharmaceutical
Stock decline: -7.37%
Source: Bloomberg