On Monday afternoon, stocks rose, capping out a strong March. Nevertheless, 69% of component stocks saw a decrease in March, and the S&P 500 finished the month down 5.8%. In March, 98 equities in the S&P 500 saw a 10% or more decline. (Dividends are not included in any price adjustments in this article.)
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Here is the performance of the 11 S&P 500 SPX sectors in March, including price changes over the last four calendar years and price changes from the end of 2021 to Monday’s closing in the right-most column. Considering that the S&P 500 fell 19.4% in 2021, this data is presented to provide perspective.
The worst performers in March
Here are the 20 stocks in the S&P 500 that declined the most for the month. Again, price changes for previous calendar year are shown, along with price changes from the end of 2001 through Monday
Company Ticker March price change 2025 price change 2024 price change 2023 price change 2022 price change Price change since end of 2021
Delta Air Lines Inc. DAL -27.5% -27.9% 50% 22% -16% 12%
United Airlines Holdings Inc. UAL -26.4% -28.9% 135% 9% -14% 58%
Teradyne Inc. TER -24.8% -34.4% 16% 24% -47% -49%
Caesars Entertainment Inc. CZR -24.7% -25.2% -29% 13% -56% -73%
DexCom Inc. DXCM -22.7% -12.2% -37% 10% -16% -49%
Lululemon Athletica inc. LULU -22.6% -26.0% -25% 60% -18% -28%
Hewlett Packard Enterprise Co. HPE -22.1% -27.7% 26% 6% 1% -2%
Nike Inc. NKE -20.1% -16.1% -30% -7% -30% -62%
Deckers Outdoor Corp. DECK -19.8% -44.9% 82% 67% 9% 83%
Constellation Energy Corp. CEG -19.5% -9.9% 91% 36% N/A N/A
Williams-Sonoma Inc. WSM -18.7% -14.6% 84% 76% -32% 87%
Ralph Lauren Corp. RL -18.6% -4.4% 60% 36% -11% 86%
Carnival Corp. CCL -18.4% -21.6% 34% 130% -60% -3%
Best Buy Co. Inc. BBY -18.1% -14.2% 10% -2% -21% -28%
EPAM Systems Inc. EPAM -18.1% -27.8% -21% -9% -51% -75%
Microchip Technology Inc. MCHP -17.8% -15.6% -36% 28% -19% -44%
Incyte Corp. INCY -17.6% -12.3% 10% -22% 9% -18%
Tapestry Inc. TPR -17.6% 7.8% 77% -3% -6% 73%
Super Micro Computer Inc. SMCI -17.4% 12.3% 7% 246% 87% 679%
Western Digital Corp. WDC -17.4% -32.2% 14% 66% -52% -38%
Source: FactSet 
