Today's 3 Worst Stocks in the S&P 500

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With another weekend in the rearview mirror and no tangible progress on resolving the debt ceiling issue, Wall Street flocked away from high-risk investments. This was bad news for equities, as more than 70% of stocks fell in value. The S&P 500 Index (SNPINDEX: ^GSPC  ) fell 14 points, or 0.9%, to end at 1,676. 

Days like today are good times to remember the Wall Street adage to "buy under gunfire and sell under fireworks." It's easier said than done, of course, as shares of Regeneron Pharmaceuticals (NASDAQ: REGN  ) showed in their 3.1% slump Monday. The stock is up 80% in 2013, a heady gain that may have caused investors to take some chips off the table today, with the macroeconomic fears all over the headlines. It's a bit of a short-sighted reason to sell off, with potential blockbuster drugs targeting indications such as cholesterol, arthritis, and asthma in the pipeline. 

Big-box retailer Best Buy (NYSE: BBY  ) dropped 3% today. Holiday season, of course, is a retailer's best friend, but with debt-ceiling mumbo-jumbo dominating headlines, consumers might rather bury their cash in the backyard than spend it at Best Buy. That said, Best Buy isn't lacking for promotions to get foot traffic in stores: The electronics outlet is offering Apple's iPhone 5C for just $50 after a $50 gift-card subsidy. 

Lastly, New Jersey-based savings and loan Hudson City Bancorp (UNKNOWN: HCBK.DL  ) shed 2.8%. The stock, which values the company at $4.4 billion and is 44% more volatile than the broader market, is highly sensitive to secular bearishness on Wall Street, even though nothing materially changed with the company today. Investors will get a better pulse of the business on Oct. 21, when Hudson City's quarterly report hits the street.

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  • Report this Comment On October 08, 2013, at 11:58 PM, donbcms wrote:

    The only reason HCBK's is staying down is because the powers that be are keeping it that way, so that M&T gets a real "gift" in the merger as well as a "NO BID" Price. Only the HCBK stockholders LOSE.

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Related Tickers

9/28/2016 5:27 PM
^GSPC $2171.37 Up +11.44 +0.53%
S&P 500 INDEX CAPS Rating: No stars
BBY $37.68 Down -0.57 -1.49%
Best Buy CAPS Rating: *
HCBK.DL $0.00 Down +0.00 +0.00%
Hudson City Bancor… CAPS Rating: ***
REGN $419.10 Down -2.35 -0.56%
Regeneron Pharmace… CAPS Rating: ****