January 15, 2016 / 9:13 PM / 3 years ago

BUZZ-U.S. stocks weekly: Lost at sea

** About $1.5 trillion of market cap lost in first 2 weeks on the SPX as investors grapple with the end of QE, China’s slowdown and oil’s slide, unleashing a tidal wave of selling

** And from a global perspective, markets have now seen nearly $4 trillion swept away so far this year

** SPX falls 2.2 pct for the week with 9 out of 10 sectors seeing a red tide

** Index dips to lowest level since Oct 2014 before bouncing, while SPDR S&P 500 Trust weekly volume surged to over 1.1 bln shares, 2nd highest in past year

** Materials and Energy sectors submerge further as crude prices bob below $30

** Financials in focus, dip 3.1 pct, as mega banks awash in mixed results

** While insurer Metlife buoyed after deciding bigger isn’t better

** In tech, chipmakers plunge with Intel biggest drag on SOX Friday. Index deluged recently by reports of slowing Apple iPhone shipments

** In Healthcare, JP Morgan conference fails to soothe as Nasdaq Biotechnology index falls 6 pct, bringing YTD loss to 16 pct; Regeneron <REGN.O and Celgene have both fallen about 14 pct this year

** Utilities stay afloat and Telecom treads water as investors play defense

** Meanwhile, Wynn Resorts (biggest SPX winner Friday, up 13 pct) and Chipotle (up 15 pct, week’s top single-stock performer) swim against the current

** 2016 sector performance for the S&P500 : reut.rs/1k6B7QQ (RM: lance.tupper.tr.com@reuters.net; Messaging: terence.gabriel.tr.com@reuters.net)

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