(New York)

This is quite a market storm investors are facing. The rolling bear market has blossomed into a widespread rout with few hopeful signs. One of the scary parts for investors is that the old places to ride out such market storms are not collapsing. In other words, even safe havens aren’t safe. Consumer staples, healthcare, and utilities, all typically bastions of protection during downturns, fell to being this week. Utilities, for instance, fell over 3%, their worst tumble since the 2016 election day.

FINSUM: One analyst sees a silver lining in this. Their argument is that since this is becoming a broad pullback (instead of a rolling bear), it may indicate the worst is near to being over.