The financial sector led the Trump rally that followed the election of Donald Trump. It gained as much as 26% in the months following the election, before topping out on March 1.
Now, it appears that the momentum in the sector is slowing. The S&P 500 Financial Index fell about 5% during March.
And one of the largest banks in the world, Goldman Sachs, is set to end the first quarter of 2017 in negative territory. During that time, the bank’s stock fell about 4%, making it the fifth worst performing stock in the Dow.
Meanwhile, rival JPMorgan fared a bit better, but was still among the worst performers. Its stock eked out a gain of about 2%, which is about half of the Dow’s gains during the quarter. Other laggards include Intel Corp, which has seen a -0.4%, and energy stocks such as Chevron and Exxon Mobil which lost about 9% apiece.
23 of the 30 companies companies listed on the Dow are in positive territory for the year. Apple led the pack, climbing about 24%, on its way to its best quarter in five years. Other firms in the top 10 include Boeing, Cisco, and Nike. The gained between 9% and 14%.
Data for this story were collected at approximately 12:30 PM Eastern time.
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