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Aug. 14, 2019, 4:08 p.m. EDT

Only 3 S&P 500 companies finished higher in Wednesday’s ugly, bond-market driven selloff

Gold-miner Newmont was among a few companies to end higher on Wednesday

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By Mark DeCambre, MarketWatch


Getty Images/iStockphoto
Bear market mauls the stock market

U.S. stock benchmarks were having one of the worst trading sessions in 2019. Fears that a recession could hit global and domestic economies intensified after a widely watched rate spread between the 10-year and 2-year Treasury notes inverted.

That means, the shorter-dated 2-year note rose above its longer-dated counterpart, a condition in the market that has tended to be a precursor to a recession in the U.S.

Combined with fears of a weakening economic backdrop in Europe and a trade clash between Washington and Beijing, the markets took the inversion as cause to deeply reduce their holdings of assets perceived as risky, leaving few companies unscathed in the carnage.

Check out : After the yield curve inverts — here’s how the stock market tends to perform since 1978

In fact, of the roughly 505 companies that constitute the broad-market S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.23% , only three closed in positive territory Wednesday, with the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.17% , down 800 points and all 30 of its components sinking, while the technology-laden Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.17% also slumped 3%.

Here are the only stocks that held on to gains in the S&P 500 index:

Company Daily return
Newmont Goldcorp Corp . /zigman2/quotes/205356474/composite NEM   0.8%
Ventas Inc . /zigman2/quotes/206376229/composite VTR   0.3%
Evergy Inc. /zigman2/quotes/200697282/composite EVRG   closed less than 0.1% higher

Read: U.S. stock losses deepen — these are the worst performers

Meanwhile, only one of the Nasdaq-100 index’s /zigman2/quotes/210598364/realtime NDX -0.26% components was firmly higher on Wednesday. American depositary receipts of NetEase Inc . /zigman2/quotes/201683625/composite NTES +3.79%  closed up 0.5%.

/zigman2/quotes/210599714/realtime
US : S&P US
2,991.77
+36.32 +1.23%
Volume: 3.36B
May 26, 2020 5:20p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
24,995.11
+529.95 +2.17%
Volume: 426.29M
May 26, 2020 5:20p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,340.22
+15.63 +0.17%
Volume: 4.13M
May 26, 2020 5:16p
loading...
/zigman2/quotes/205356474/composite
US : U.S.: NYSE
$ 59.21
-3.84 -6.09%
Volume: 11.32M
May 26, 2020 4:00p
P/E Ratio
13.70
Dividend Yield
1.69%
Market Cap
$50.60 billion
Rev. per Employee
$300,083
loading...
/zigman2/quotes/206376229/composite
US : U.S.: NYSE
$ 35.54
+1.83 +5.43%
Volume: 4.48M
May 26, 2020 4:00p
P/E Ratio
17.00
Dividend Yield
8.92%
Market Cap
$12.58 billion
Rev. per Employee
$7.49M
loading...
/zigman2/quotes/200697282/composite
US : U.S.: NYSE
$ 59.89
-0.11 -0.18%
Volume: 7.80M
May 26, 2020 4:00p
P/E Ratio
22.02
Dividend Yield
3.37%
Market Cap
$13.60 billion
Rev. per Employee
$884,913
loading...
/zigman2/quotes/210598364/realtime
US : U.S.: Nasdaq
9,389.98
-24.01 -0.26%
Volume: 839,319
May 26, 2020 5:16p
loading...
/zigman2/quotes/201683625/composite
US : U.S.: Nasdaq
$ 386.34
+14.09 +3.79%
Volume: 899,957
May 26, 2020 4:00p
P/E Ratio
15.71
Dividend Yield
1.90%
Market Cap
$48.09 billion
Rev. per Employee
$559,825
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Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre.

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