The stock market sell-off is indeed dragging on Monday, but it just took a twist. The market is telling us something a little bit different than what it was telling us in the first leg of the selling earlier this month.
Monday, the S&P 500 fell as much as 2% by mid-afternoon. The tech-heavy Nasdaq fell 1%.
But let’s take a look at the first bit of market pressure against what we are seeing Monday. The fears are changing and so are the price movements of some of the U.S. market’s premier stocks.
Between September 2 and September 11, the Nasdaq 100 fell 10.7%. In that time, the Vanguard S&P 500 Value ETF (VOOV) – Get Report fell 4.3%. Value bulls don’t want to hear this, but value actually began to outperform growth, even though it was in the form of downside price movement. Growth tech stocks were