Investors aren’t waiting around for Russia’s next move in Ukraine. They’re finding S&P 500 stocks they don’t want to own — and selling them.
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Ten S&P 500 stocks, including communications services Paramount Global (PARA), materials firm Albemarle (ALB) and financial Fidelity National Information Services (FIS), are selling off the most — more than 8% — just this week, says an Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.
Rising tensions in Russia this week, muddled by conflicting news reports about what’s going on there, are forcing S&P 500 investors to bail out. And that’s prompting big sell-offs in markets. Broad stocks fell in five in the past six trading days, says Wilshire Associates. That includes a 1.8% drop in the S&P 500 on Thursday.
“It’s no wonder investors don’t know which way to turn,” said Craig Erlam,…
