When the market is in correction, tech tends to get pummeled the worst

When the stock market is in a correction and careening toward a bear market like it is now, history shows there are certain stocks that get hit the hardest and the least during those tumultuous periods.

CNBC, using data from Kensho, looked at periods during the last three decades when the S&P 500 fell 10 percent or more in a six-month span. The S&P 500 is currently 16 percent below its record reached earlier this year. (A decline greater than 10 percent is a correction and a loss bigger than 20 percent is a bear market.)

Technology stocks, the favorites of traders during the record bull market, are typically the biggest losers, according to data from Kensho. The S&P tech sector on average loses 20.3 percent, when the S&P 500 is down at least 20 percent. So it’s rare for the sector to skirt a bear market when the bigger benchmark is in a correction.

Financials are not far behind, history shows, losing 19 percent on average in the same market conditions.

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