Deep Dive: These are the worst-performing stocks in October as Big Tech slumps

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October marked a cooling-off period for many large-cap technology stocks, which had led the market higher after the pandemic began in March.

Solid earnings reports and record sales for Apple Inc. AAPL, -5.60%, Amazon.com Inc. AMZN, -5.44%, Facebook Inc. FB, -6.31%  and Google holding company Alphabet Inc. GOOG, +3.43%  weren’t enough to settle investors’ worries over record new COVID-19 cases in the U.S. and political uncertainty heading into the Nov. 3 elections.

Even Tesla Inc. TSLA, -5.54%  took a 9.5% tumble during October. Then again, the electric-vehicle pioneer’s stock is still up 364% for 2020.

• The Dow Jones Industrial Average DJIA, -0.59%  pulled back 156 points, or 0.6%, on Friday to close out October with a 4.6% drop — the worst month for the Dow since March, when it plunged nearly 14%. The index has now fallen 7.1% for 2020. (All price changes in this article exclude dividends.)

• The S&P 500 Index SPX, -1.21%  was down 1.2% on Friday, ending October with a 2.8% decline. That followed a 3.9% decrease in September. The benchmark index is now up 1.2% for 2020.

• The Nasdaq Composite Index COMP, -2.45% tumbled 2.4% on Friday, settling the month down 2.3%. The technology-heavy Nasdaq is up 21.6% this year.

The information technology sector was the worst performer among the 11 sectors of the S&P 500 for the month:

S&P 500 sector Price change – October Price change – 2020
Information Technology -5.2% 20.9%
Energy -4.7% -52.5%
Health Care -3.8% -0.3%
Real Estate -3.4% -12.0%
Consumer Staples -3.0% -1.2%
Consumer Discretionary -3.0% 18.8%
Industrials -1.5% -6.8%
Financials -1.0% -22.5%
Materials -0.8% 2.9%
Communication Services 0.5% 8.2%
Utilities 5.0% -3.5%
Source: FactSet
Dow

Here’s how all 30 components of the Dow Jones Industrial Average performed during October.

Company Ticker Price change – October Price change – 2020 Decline from all-time intraday high Date of all-time intraday high
Amgen Inc. AMGN, -0.40%   -14.6% -10.0% -18.1% 07/06/2020
Intel Corp. INTC, +0.38%   -14.5% -26.0% -41.6% 08/28/2000
Boeing Co. BA, -2.63%   -12.6% -55.7% -67.6% 03/01/2019
Merck & Co. Inc. MRK, -0.89%   -9.3% -17.3% -18.8% 12/20/2019
Visa Inc. Class A V, -1.70%   -9.1% -3.3% -16.4% 09/02/2020
American Express Co. AXP, +0.18%   -9.0% -26.7% -33.9% 01/24/2020
Cisco Systems Inc. CSCO, +0.58%   -8.9% -25.1% -56.2% 03/27/2000
International Business Machines Corp. IBM, +2.52%   -8.2% -16.7% -48.3% 03/15/2013
Johnson & Johnson JNJ, -0.05%   -7.9% -6.0% -12.7% 04/23/2020
Salesforce.com Inc. CRM, -2.05%   -7.6% 42.8% -18.4% 09/02/2020
Apple Inc. AAPL, -5.60%   -6.0% 48.3% -21.1% 09/02/2020
Goldman Sachs Group Inc. GS, -0.47%   -5.9% -17.8% -31.3% 03/12/2018
Walgreens Boots Alliance Inc. WBA, +1.55%   -5.2% -42.3% -65.0% 08/05/2015
Nike Inc. Class B NKE, -2.26%   -4.3% 18.5% -8.6% 10/21/2020
Verizon Communications Inc. VZ, +0.40%   -4.2% -7.2% -8.5% 10/04/1999
Home Depot Inc. HD, -1.08%   -4.0% 22.1% -9.0% 08/27/2020
Microsoft Corp. MSFT, -1.09%   -3.7% 28.4% -13.1% 09/02/2020
Chevron Corp. CVX, +1.01%   -3.4% -42.3% -48.5% 07/24/2014
Dow Inc. DOW, -1.64%   -3.3% -16.9% -24.8% 04/04/2019
McDonald’s Corp. MCD, -0.90%   -3.0% 7.8% -8.2% 10/16/2020
Coca-Cola Co. KO, +0.08%   -2.7% -13.2% -20.1% 02/21/2020
Walt Disney Co. DIS, -0.23%   -2.3% -16.2% -21.0% 11/26/2019
UnitedHealth Group Inc. UNH, +0.48%   -2.1% 3.8% -9.1% 10/23/2020
Procter & Gamble Co. PG, -0.34%   -1.4% 9.7% -6.0% 10/16/2020
Walmart Inc. WMT, -0.83%   -0.8% 16.8% -8.3% 09/02/2020
3M Co. MMM, +0.93%   -0.1% -9.3% -38.4% 01/26/2018
Honeywell International Inc. HON, +0.21%   0.4% -6.6% -10.2% 01/17/2020
J.P. Morgan Chase & Co. JPM, +0.89%   1.8% -29.7% -30.5% 01/02/2020
Caterpillar Inc. CAT, +1.53%   5.3% 6.3% -9.3% 01/16/2018
Travelers Cos. Inc. TRV, -1.42%   11.6% -11.9% -22.2% 07/16/2019
Source: FactSet

Scroll the tables to see all the data. You can click on the tickers for more about each company.

S&P 500

Among S&P 500 stocks, 58% were down in October. Here are the 10 worst performers for the month:

Company Ticker Price change – October Price change – 2020 Decline from all-time intraday high Date of all-time intraday high
 Vertex Pharmaceuticals Inc.  VRTX, +0.65% -23.4% -4.8% -31.9% 07/07/2020
 DexCom Inc.  DXCM, -4.68% -22.5% 46.1% -30.0% 08/07/2020
 Citrix Systems Inc.  CTXS, -0.57% -17.7% 2.1% -34.7% 07/22/2020
 International Flavors & Fragrances Inc.  IFF, -0.25% -16.2% -20.4% -34.8% 01/17/2018
 Fidelity National Information Services Inc.  FIS, -0.34% -15.5% -10.5% -21.3% 02/14/2020
 Mastercard Inc. Class A  MA, -1.54% -14.6% -3.3% -21.4% 08/28/2020
 Amgen Inc.  AMGN, -0.40% -14.6% -10.0% -18.1% 07/06/2020
 Lumen Technologies Inc.  LUMN, -0.57% -14.6% -34.7% -82.7% 06/14/2007
 Intel Corp.  INTC, +0.38% -14.5% -26.0% -41.6% 08/28/2000
 Lennar Corp. Class A  LEN, -1.91% -14.0% 25.9% -19.1% 10/16/2020
Source: FactSet
Nasdaq-100

Here are October’s 10 worst performers among components of the Nasdaq-100 Index NDX, -2.62% :

Company Ticker Price change – October Price change – 2020 Decline from all-time intraday high Date of all-time intraday high
 Vertex Pharmaceuticals Inc.  VRTX, +0.65% -23.4% -4.8% -31.9% 07/07/2020
 DexCom Inc.  DXCM, -4.68% -22.5% 46.1% -30.0% 08/07/2020
 Citrix Systems Inc.  CTXS, -0.57% -17.7% 2.1% -34.7% 07/22/2020
 Seagen Inc.  SGEN, -13.27% -14.8% 46.0% -22.0% 10/13/2020
 Amgen Inc.  AMGN, -0.40% -14.6% -10.0% -18.1% 07/06/2020
 Intel Corp.  INTC, +0.38% -14.5% -26.0% -41.6% 08/28/2000
 Biogen Inc.  BIIB, +2.68% -11.1% -15.1% -43.0% 03/20/2015
 Liberty Global PLC Class A  LBTYA, -0.15% -9.7% -16.5% -60.7% 05/27/2015
 Tesla Inc.  TSLA, -5.54% -9.5% 363.8% -22.8% 09/01/2020
 Cisco Systems Inc.  CSCO, +0.58% -8.9% -25.1% -56.2% 03/27/2000
Source: FactSet

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