The S&P 500 Industrials Index has declined 6.1% from its peak on August 14. The index has fallen below its 50-day and 100-day moving averages, with the 200-day average now sitting approximately 2.5% below current levels.
Individual industrial stocks have faced significant pressure since mid-August. GE Vernova and Eaton have each dropped at least 9%, while Caterpillar has fallen by roughly 5%. Honeywell has recorded a year-to-date loss of 47.1%.
Manufacturing output in August decreased by 0.3%, marking the first decline since October 2025 and ending a seven-month growth streak. Analysts had previously anticipated a 0.3% increase in output.
Oil prices have risen by more than 10% since mid-August, contributing to increased operating costs for aviation and logistics sectors. Companies such as GE Aerospace and RTX are facing margin pressures due to these rising costs.
