CPI Unnerves Investors

This past week was an ugly one for the S&P 500 adding significantly (5.1ppts) to the 18.2% ytd loss in the index.The MegaCap-8 stocks continued to weigh most heavily on the S&P 500 Information Technology, Communication Services, and Consumer Discretionary sectors. Here is the ytd and past week's performance derby for the index and its 11 sectors:Energy (58.7%, -0.9%), Utilities (-1.0, -4.1), Consumer Staples (-7.5, -2.6), Materials (-10.3, -5.8), Industrials (-14.5, -5.0), Financials (-17.1, -6.8), S&P 500 (-18.2, -5.1), Real Estate (-20.8, -6.2), Information Technology (-25.2, -6.4), Communication Services (-28.2, -4.1), and Consumer Discretionary (-30.0, -6.1).