Even though it is a repeat pattern, the daily grind of a stock market correction can be surprising to investors following a bull market.
Below is a screen of technology companies in the S&P 500 Index SPX, -0.82% showing which ones have had the highest average operating margins over the past five years. Such consistent profit-makers might be considered to be safer plays when investors fear rising interest rates. Those stocks are included in the Nasdaq Composite Index COMP, -1.59%, which as of 10:10 a.m. ET on Jan. 25 was down 2.9%, for a decline of 17% from its intraday high on Nov. 22. The S&P 500 Index was down 2.6% for the session, for a decline of 11% from its Jan. 4 high, and the Dow Jones Industrial Average DJIA, -0.08% was down 2.1% for the day and down 9% from its high that was set on Jan. 5.
From the consumer discretionary sector, Tesla Inc. TSLA, -0.31% and Amazon.com Inc. AMZN, -2.70% were also added to the list, bringing the initial screen up to 85 companies.