These stocks are already in a correction and could fall further

Investors trying to buy the recent market dip should be careful — there are a host of battered stocks that are showing signs of further downside rather than a bounce back. Rising geopolitical concerns and a streak of hot inflation data that's reversed the likelihood of easier Federal Reserve policy have started to dent investor sentiment. As a result, the market has begun the second quarter of 2024 on a pessimistic note after a roaring start to the year.

The Bank of Hawaii is one such unloved and struggling stock. Shares have lost nearly a quarter of their value from a 52-week high in December 2023. According to analysts surveyed by FactSet, the regional bank stands to lose another 5.9%. Although regional banks have suffered since the Fed started raising rates in 2022 and from the failure of Silicon Valley Bank in March 2023, Bank of Hawaii is a notable underperformer even among its peers. The stock has slumped 21.

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