Risk assets have taken a fresh thumping in May. As of last night, the S&P 500 index was down 5.5% on the month, with energy (-9.2%), technology (-8%), materials (-7.4%), industrials (-7.1%) and financials (-5.6%) faring worst, and so-called 'defensives': real estate (-.05%), utilities (-1.6%), health sick care (-2.3%) and consumer staples (-2.9%) faring less bad, as shown above from Yardeni Research.
Canada's TSX stock index lost about half as much as the S&P 500 this month, but still -2.7%, again with economically sensitive energy stocks (-9.77%), materials (-7.66%) and financials (-3.43%) faring worst;