Which sub-industries have been hit the hardest by the recent sell-off? Pretty much all of them, with only minor losses/ a slight gain in what amounts to just three of the sector's individual stocks:
And, while the group has undoubtedly reached oversold territory, past experience shows that it can remain there for quite some time. Looking at some of these market internals, a case could be made for the correction to worsen from here:
Has relative performance of European growth counter-cyclicals (a group comprised of health care and consumer staples companies) peaked?
