Last week, the S&P 500 sectors experienced widespread declines, with a few exceptions providing some positive momentum. Telecom led the way, gaining 2.4%, followed by Consumer Discretionary, which managed a solid 1.4% increase, indicating strength in select growth-oriented areas. However, most sectors were in the red, with Materials suffering the steepest loss at -2.9%, reflecting weakness in commodity-driven industries. Defensive sectors like Utilities and Healthcare also struggled, falling -2.7% and -2.4%, respectively, suggesting limited investor appetite for traditionally safer plays.

The Financials sector dropped -1.9%, while Industrials declined -2.3%, reflecting broader economic caution. Energy fell -2.1%, potentially driven by volatility in oil prices, and Real Estate mirrored these declines with a -2.4% drop, likely pressured by higher interest rates. Meanwhile, Information Technology remained relatively resilient, shedding only -0.2%, as investors seemed to maintain confidence in the sector's growth prospects. Lastly, Consumer Staples slipped by -0.7%, showing more modest losses compared to the broader market. Overall, last week was characterized by significant downward pressure across most sectors, with growth-focused areas like Telecom and Consumer Discretionary providing the only bright spots.

‍