After opening higher, the S&P 500 fell sharply this morning. As shown in the first chart below, however, the S&P 500's low for the day was reached right at 11:30 AM ET (when Europe's markets close), and we've seen a nice bounce since then.
Below we highlight intraday S&P 500 sector performance at 11:30 AM ET as well as since 11:30. As shown, the Materials (-1.93%) and Energy (-1.11%) sectors were down the most at the market's low this morning, while Consumer Staples was actually up 0.09% at this time. Since the 11:30 low, the Utilities sector has surprisingly rallied the most of any sector at 0.76%. The Financial sector, which didn't get hit nearly as hard as some other sectors this morning, is up the second most since 11:30 at 0.67%. The Technology and Telecom sectors have performed the worst off the bounce at 0.25%.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.