← Browse all charts Chart intent Which sectors still carry the most unresolved damage?

Methodology: Current constituents, not point-in-time membership. History starts 2012-10-15 and can carry survivorship or constituent-change bias.

Market Signal

S&P 500 Sector Underwater Board

This board shows how much damage each sector is still carrying from its last peak, even when the headline index looks calm.

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The latest series values are listed below the chart. Visible-window CSV and full-history JSON downloads are available above.

Latest Sector Drawdowns

Higher readings indicate deeper damage below each sector's running peak. Updated through 2026-08-26.

Consumer Cyclical 8.27%
Utilities 6.99%
Consumer Defensive 4.55%
Technology 4.25%
Industrials 3.00%
Real Estate 2.71%
Communication Services 2.58%
Energy 1.71%
Healthcare 0.25%
Basic Materials 0.11%
Financial Services 0.00%

Historical Context

Toggle the market-event markers above when you want to line recent regime shifts up with the signal.

Mar 16, 2020 COVID panic across global markets
Mar 16, 2022 Fed hiking cycle begins
Mar 10, 2023 SVB failure sparks banking stress
May 25, 2023 Nvidia guidance supercharges AI-led sector rotation
Jul 11, 2024 Cooling CPI sparks a sudden broadening rotation bid

How To Read It

  • This board shows how far each sector still sits below its own prior peak.
  • Shallow drawdowns that recover quickly usually confirm strong leadership; deep drawdowns signal unfinished damage.
  • It is especially useful when the main index looks fine but several sectors are still far from healed.
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