Netflix, Facebook and Amazon Share Prices All Fell by 5 Percent (at Least) Today Here are some stock trends from the Entrepreneur Index™.

By Andrew Osterland

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Marlene Awaad | Getty Images

More great earnings, but more big beatdowns in the stock market.

Alexion Pharmaceuticals topped earnings and revenue estimates by a wide margin this morning but the stock was down 9.76 percent -- the second biggest decline on the Entrepreneur Index™ today. Fellow biotech firm Regeneron Pharmaceuticals was also down 7.7 percent. The Entrepreneur Index™ closed the day off 4.08 percent.

Investors continued to move out of stocks and into the safe haven of U.S. Treasury bonds. Only nine of 60 stocks on the Entrepreneur Index™ posted gains today. Meanwhile, the 10-year Treasury bond yield (which moves opposite to the bond's price), fell another five points to 3.11 percent.

High-growth technology stocks were crushed. The Nasdaq 100 index fell a whopping 4.63 percent, while the Dow and S&P 500 indexes were off 2.41 percent and 3.09 percent respectively.

Every tech stock on the Entrepreneur Index™ was down more than 3 percent today, with chipmaker NVIDIA Corp. (-9.79 percent) posting the biggest decline of the day. The stock was up more than 40 percent through September, but has dropped nearly 20 percent in the last five trading sessions. It is now up only 3.5 percent on the year. Netflix (-9.4 percent) was down only slightly less. It has given back all it gained and then some after reporting blowout earnings last week. Tech giants Alphabet Inc. (-4.8 percent), Facebook (-5.41 percent) and Amazon.com (-5.91 percent) also had big declines.

Cyclical stocks continued to struggle as fears about economic growth mount. Truck maker PACCAR Inc. (-4.27 percent) and casino-operator Wynn Resorts (-3.18 percent), which posted the two biggest declines yesterday, were down sharply again today. Ford announced a new head of operations in China to help revive flagging sales there, but the stock was down 4.77 percent. The iconic car company will report earnings after the market closes. FedEx was down 4.2 percent after competitor UPS beat earnings estimates this morning but missed slightly on revenue targets. The company blamed tariffs and a strong U.S. dollar for weaker than expected international results.

Tesla shares retreated 1.92 percent after a monster day in the market yesterday. The rare public reversal of opinion by a major Tesla short seller yesterday sent the stock up nearly 13 percent. Tesla also reports earnings after the market closes today.

Defensive stocks did marginally better than the broader market. High dividend-paying real estate investment trust (REIT) stocks were up nicely. Essex Property Trust had the biggest gain on the index today, rising 3.06 percent. Equity Residential (2.65 percent) and Extra Storage Space (1.5 percent) also had strong gains. Food maker J.M. Smucker Company was up 1.32 percent.

Rollins Inc., owners of Orkin Pest Control, had a nice gain on the day. The stock was up 1.52 percent on the strength of good earnings reported this morning as well as the announcement of a special 14 cents per share dividend and a three for two stock split.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'A Lobstrosity': Social Media Is Losing It Over Martha Stewart's Latest Meal Posting

The 82-year-old caused quite a stir on Instagram this week.

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Business News

Tennessee Just Passed a New Law to Protect Musicians From a Growing AI Threat — And Even Taylor Swift Has Been a Victim

Tennessee is the first U.S. state to pass legislation protecting music industry professionals.

Leadership

5 Trailblazing Black Women Entrepreneurs Share How They're Breaking Barriers — And How You Can Too

52,374. That's how many Black women-owned businesses there were in the U.S. in 2020. Although this number might seem insignificant, their impact can be felt. According to J.P. Morgan, Black women are the fastest-growing group of entrepreneurs, and there's no end in sight.

Business News

Make $177,566 With No Experience in 3 Months: A Popular Online 'Side Hustle' Course Is Under Investigation After Customers Complain About Its Deceptive Claims

"All you need is a phone, a laptop, wi-fi and one to three hours a day," one affiliate marketer said in a video posted to social media.

Business News

This Retailer Is the Latest to Remove a Major Feature From Its Stores Due to Rising Theft

Five Below CEO Joel Anderson addressed the company's plans to combat theft in an earnings call earlier this week.