U.S. equities are meandering beneath the unchanged line on Wednesday, shell-shocked from Tuesday’s big 1%-plus decline that was the most significant pullback for the market since October. This put an end to an incredible uptrend for the market, considering that, according to Bespoke Investment Group, 1% declines normally happen about 10% of the time historically.
The catalyst for the pullback included growing fears that healthcare reform supported by President Trump is hitting resistance in Congress from conservative republicans — a possible sign his agenda will be slower in coming months than Wall Street optimists had expected.
If things like tax reform and deregulation are going to stall — hopes for which drove the valuation-extending market surge of the past few months despite tepid earnings — then stocks suddenly look expensive.
No surprise then that selling pressure is popping up. Here are five large-cap stocks beginning to suffer: